Buyers snap up resale HDB flats as price swings ease

Resale transactions jumped 15.9% in May.

More buyers have ventured into the HDB resale market in recent months, drawn by price stability in the secondary market.

Data from SRX Property show that resale transactions jumped 15.9% year-on-year to 1,826 HDB flats in May, while prices remained fairly stable with just a 0.1% decline.

Eugene Lim, key executive officer of ERA Realty, said that the increase in resale transactions highlights the inherent attractiveness of HDB resale flats.

"Buyers could also have been enticed by the price stability in recent months. Those in need of a flat would have bought one off the resale market as prices are evidently not going into fall significantly anymore," he said.

"In spite of these monthly price movements, the overall picture of HDB resale market is one of stability. For the past year, prices have remained unchanged and every month, only minor price differences are recorded. This trend is expected to continue in the coming months, as buyers and sellers right size their expectations," he added.