HDB resale prices up 0.1% in Q2 as volume jumps

Buyer demand remains resilient.

Flash estimates from the Housing Development Board showed that resale prices for public flats rose by a mere 0.1% quarter-on-quarter in Q2, reversing its 0.1% dip in the preceding quarter.

According to ERA, the HDB Resale Price Index has remained flat overall for the past three quarters, indicating that prices have stabilised.

ERA’s resale HDB transactions—which represents almost 50% of market share—showed a “significant” pick-up in transaction volume over Q1.

“HDB resale flats remain attractive to buyers, with some of them willing to fork out higher sums for well-located flats. Buying demand is expected to remain resilient, as the price stability serves as a magnet to draw buyers,” ERA Realty key executive officer Eugene Lim said.
ERA added that prices are not likely to drop significantly, judging by current market conditions. Buyers who have immediate housing needs as well as permanent residents who have met the 3-year wait out period are expected to form the bulk of the demand.