Increasing sales volume of resale HDB flats

Sales volume of resale HDB flats have increased by 9.6% but prices have fallen 0.6% for the second consecutive month.

Clementi Street 14. Picture: iProperty

Buyers paying below market value in some mature estates

While the waiting time for resale flats has now been shortened with the new HDB resale portal, so has the waiting time for BTO flats.

Analysts consider the lowering resale flat prices in line with the falling prices of 2017. Prices of flats in non-mature estates dipped 1.1% while that of units in mature estates remained steady.

That said, buyers have been paying below market price even in popular mature townships such as Ang Mo Kio and Toa Payoh. The winds of change may be at play as these mature estates are commonly in demand, especially by buyers looking for flats near their parents or adult children.

On the other hand, Pasir Ris and Serangoon had the most number of buyers paying above market value for resale units.

Bigger units regaining popularity with buyers?

1,195 resale HDB flats exchanged hands last month, up 9.6% from the 1,090 units sold in January. In a year-on-year comparison with February 2017, the number of resale flats sold has risen 9.7% when 1,089 units were sold.

Prices last month was also 2.4% higher than that a year ago but 13.5% lower than April 2013’s peak.

Prices of 5-room flats rose 0.5% last month while prices of 3-room, 4-room and executive flats all fell.

Previously, bigger units fell out of favour with buyers. But are the tables turning?