HDB resale volume to ‘ease slightly’ in June: expert

In May, volumes picked up by 3.2% MoM. 

Following a 3.2% MoM increase in May, a property expert expects HDB resale volume to ease slightly by June.

Wong Siew Ying, head of research and content at PropNex Realty, cited school holidays and the “crop of new flats launched for sale by the HDB towards the end of May” as drivers for the potential slowdown.

The launches at the end of May included BTO projects in desirable mature towns like Bedok, Kallang Whampoa, and  Serangoon.

In May, HDB resale transaction volume picked up to 2,259 flats. Compared to May 2022, sales increased by 4.8%.

“The slowing price growth momentum from Q4 2022 to Q1 2023 (and the increase in housing grants for eligible buyers could have brought more buyers into the market,” Wong said.

 “Another factor that could have contributed to the slight uptick in sales in May could be the completion of new private residential units and executive condo (EC) units in Q1 2023 which led to some flat owners selling their HDB flat as they receive keys to their newly-completed homes,” he added.