HDB resale flat prices have risen for 2 consecutive months this year, with a 0.2% rise in February. More than a distinctive market rebound, property analysts are embracing the slight adjustments as a sign of market stabilisation.
In fact, the market has been stable for the past year and a half, with less than 1 per cent fluctuation. It is still however, the buyers’ market. The number of resale HDB flat transactions have fallen, which could mean that demand is slowly waning, and the price point may be what the buyers are focused on. With the transparency of transaction data and statistics, more options made available such as singles now being able to apply for 2-room flats directly from HDB, and the injection of 9,000 new BTO flats into mature estates this year, buyers are more savvy and will only take the bait if the deal is truly good.
1,200 resale flats exchanged hands last month, down from 1,286 in January but still up from 1,148 last year though the lull could have been due to the year-end festivities. Industry experts are expecting resale HDB flat prices to remain flat this year, with an increase of transactions up to July when a fall in activity is expected during the Hungry Ghost Festival month.