Sellers on look out for upgrade opportunities

SINGAPORE – Resale prices for Housing Board (HDB) flats increased by 0.1 per cent in September (2016) over the previous month.

Still, the prices are a 0.4 per cent drop compared to those in Sept 2015, latest flash figures from SRX Property released on Thursday (Oct 6) show. Upcoming executive condo launches include Yio Chu Kang EC, Choa Chu Kang EC, Anchorvale Lane EC,  while existing ones include Terrace EC, Brownstone EC, The Vales EC, Parc Life EC , Sol Acres EC, The Visionaire, Bellewoods EC, Signature at Yishun, The Criterion EC,  Northwave EC,  Skypark Residences and Wandervale EC.

Despite a fall in the prices of three-room and executive flats, prices were nudged upwards by a 0.8 per cent increase in prices of four-room flats and a 1.2 per cent rise for five-roomers.

Overall, prices have slid by 11.4 per cent since a peak in April 2013.

According to the SRX Property data, in Sept this year, HDB resale prices of mature estates decreased by 0.2 per cent, while those in non-mature estates increased 0.4 per cent.

Despite some positive indicators, at 1,666, the resale volume in September 2016fell 11.3 per cent from the previous month and 10.8 per cent compared to September 2015.

Flash estimates released by the Housing Board on Monday (Oct 3) showed that its resale-flat price index remained the same in the third quarter of this year over the previous quarter.

The Resale Price Index (RPI) provides information on the general price movements in the resale public housing market. The RPI for the full quarter and more detailed public housing data for the second quarter will be released on Oct 28.

PropNex Realty chief executive Ismail Gafoor said the latest SRX figures are in line with market movement over the year.

The year-on-year fall in resale prices has declined from 6 per cent in 2014, to 1.6 per cent last year to less than 1 per cent in the first nine months this year, he noted.

“It’s a good time for people to enter the market. This is a period where sellers can look out for an upgrade opportunity, and buyers may be able to find good buys,” he said.

Waiting further may not mean prices will fall further, he added, as they are falling in a way that is “insignificant”.

executive-condo-and-seletar-mall-pic-1