Chart of the Day: Resales of small HDB flats slipped 10% in Q1

Resale transactions for larger flats declined by a smaller magnitude.

This chart from OrangeTee & Tie revealed that applications received for the resale of one-, two- and three-bedroom HDB flats fell 10% to 1,531 transactions in Q1, compared to 1,704 applications received in Q4 2019.

Meanwhile, the number of resale transactions for larger flats like four-, five- bedroom and executive units dropped by a smaller magnitude of 5.9% over the same period from 4,635 applications in Q4 2019 to 4,362 in Q1 2020.

According to data released by the Housing & Development Board (HDB), the total resale volume slipped 7% to 5,893 units in Q1 from 6,339 units in Q4 2019. “Demand had remained buoyed prior to the onset of the pandemic, indicating that the policy changes were effective in boosting the housing market last year,” the report noted.