Prices to remain on path of moderation

HDB resale prices were unchanged in the second quarter, compared to a quarter ago, the latest quarterly statistics from the Housing & Development Board show.

Resale transactions increased by 31.2 per cent from the first quarter to 5,838 cases in the second quarter. Upcoming executive condo include Treasure Crest and Northwave EC while existing ones include The Terrace EC, Brownstone EC, The Visionaire EC, Parc Life EC , Waterwoods EC, Signature at Yishun, Skypark Residences, Wandervale EC, The Vales EC, The Criterion EC, The Amore EC,  Bellewaters EC, Bellewoods EC.

The number of applications approved for subletting of HDB flats rose 5.2 per cent quarter on quarter to 11,824 cases in the second quarter. As at June 30, 52,171 HDB flats were sublet, an increase of 2.2 per cent from the preceding quarter.

In the first half, HDB offered 13,110 flats, comprising 7,940 Build-To-Order (BTO) flats and 5,170 balance flats. In August 2016, HDB will offer about 4,800 BTO flats in Hougang, Sembawang, Tampines and Yishun.

PropNex CEO Ismail Gafoor: We expect  with a bit of downward pressure in 2016. Developers will continue to adjust launch prices to match the current inertia in the market, but will not drop prices too much due to the high price in which they have secured the land. Similarly, resale prices will take cue from the primary market in a bid to attract buyers.

In view of these downside pressures, prices of private residential properties are projected to remain on a path of moderation. Furthermore, developers’ land bid strategies are expected to remain measured in the highly regulated residential property market, allowing them more flexibility in adjusting prices to encourage home purchases.

executive condo and land site pic 1