Chart of the Day: HDB resale prices tipped to decline 1.3% in 2020

This may be attractive to some buyers looking for cheaper homes amidst uncertainties.

This chart from OrangeTee & Tie shows that the resale prices for HDB flats is projected to decline 1-3% in 2020. At the same time, the number of resale transactions could dip to 21,000 to 22,000, from 23,714 in 2019.

Prices are expected to enter the negative territory if the health crisis persists and unemployment rises. “However, the property value of some flats may hold steady in areas with higher demand such as those located near MRT stations, amenities or city centre,” the report noted.

However, the affordability of HDB flats may be considered to be attractive to some buyers, especially those who prefer a cheaper housing option or a smaller housing loan amidst the economic uncertainties OrangeTee & Tie said.