HDB resale prices crashed to 20-month low in September

Resale volume jumped 19.9% last month.

HDB resale prices crashed to a 20-month low in September, the Singapore Real Estate Exchange revealed today.
Resale prices fell 7.5% year-on-year in September, marking a 20-month low since January 2012.

On a month-on-month basis, resale prices dipped 0.5%. HDB 3, 4, and 5 -room flats drove the overall index down with declines of 0.2%, 0.2% and 1.6%, respectively. In comparison, Executive flat prices increased slightly by 0.1%.

Resale volume improved jumped substantially, with 1,469 HDB resale flats sold in September this year, a 19.9% increase compared with 1,225 units resold in September 2013.

On a month-on-month basis, resale volume improved by 10.7% compared to 1,327 transacted units in August.

Rental volume and prices slipped slightly in September. An estimated 1,483 HDB flats were rented in September 2014, a 6.7% decrease compared to 1,590 units rented in August 2014.