Resale prices of flats edged up

Resale prices of Housing Board (HDB) flats edged up 0.1 per cent last month, reversing the 0.1 per cent dip recorded in November, according to flash estimates from SRX Property on Thursday.

There was also a near 20 per cent drop in flats changing hands: 1,585 resale units were sold in December, 19.9 per cent fewer than in November. The drop, while in line with the property market’s quieter year end, was bigger than December 2016’s 14 per cent month-on-month sales decline, according to SRX figures. Upcoming executive condo launches include Rivercove EC while existing ones include Parc Life, Signature at Yishun,  Brownstone EC, Visionaire EC, Inz Residence, The Criterion EC and Northwave EC, The Terrace EC,  The Vales EC, Hundred Palms Residences EC, Sol Acres EC and The Bellewoods EC. Rivercove Residences floor plans and Rivercove Residences EC details will be available shortly.

Year-on-year, the number of HDB resales last month was 13.9 per cent higher than the 1,391 units sold in December 2016. But resale volume is down by 56.6 per cent compared to its peak of 3,649 units in May 2010.

With its latest monthly figures, SRX’s full-year HDB resale price index is down 1.8 per cent, close to the 1.5 per cent full-year decline shown in HDB’s official flash estimates released on Tuesday.

ccording to the HDB flash data, resale prices dipped 0.2 per cent in the final three months of 2017, while SRX’s prelinary estimates show a 0.3 per cent slip.