Tag Archives: HDB Resale Prices

HDB resale volume to hit 10-year low this year, report

Posted on 28 Oct 2014 | Comments Off on HDB resale volume to hit 10-year low this year, report

HDB resale volume is expected to hit to a 10-year low this year at around 16,500 to 17,000 units, while resale prices are expected to drop by as much as seven percent, according to PropNex and reported in the media.

HDB resale prices will continue to be affected by a looming flood of new homes as well as the continued impact of the government’s property cooling measures such as shorter loan tenure, lower mortgage servicing ratio and a three-year minimum waiting period for PRs looking to purchase HDB resale flats, the report said.

Meanwhile, 2015’s outlook also appears to be bleak, with a possible five to six percent full year drop.

“This is mainly due to the increased number of second timers collecting their keys to their new BTO flats, and they will have to sell their existing flats within six months. This figure is expected to be about 6,000 annually for the next two years,” said PropNex.

PropNex CEO Mohamed Ismail noted that home buyers are more restrained if their TDSR is near 60 percent or MSR is over 30 percent.

“Loan curbs and softer prices will ultimately mean that HDB upgraders will find it more prohibitive to upgrade to a private property,” he said.

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HDB resale price increased 1.6% in Q1

Posted on 25 Apr 2011 | Comments Off on HDB resale price increased 1.6% in Q1

HDB resale prices increased in the first quarter of this year, albeit at a slower rate, as property cooling measures kicked in.

The Resale Price Index increased 1.6 per cent in Q1, compared with 2.5 per cent in the previous quarter.

Cash-Over-Valuation premiums dropped nine per cent or S$2,000 to S$21,000 from the previous quarter, with the proportion of resale cases transacting above valuation remaining at 96 per cent.

Data released from HDB also showed that the number of resale transactions fell by about four per cent to 6,228 cases in first quarter of 2011.

Median sublet rents in Q1 remained relatively stable with increases from one-room and five-room flats and decreases from two-room flats.

Subletting transactions rose by eight per cent to 6,365 cases.

The total number of HDB flats approved for subletting rose to about 36,400 units in Q1, compared to about 35,000 units in the previous quarter.

HDB also announced that it will launch another 3,185 flats located in Hougang, Sembawang, Sengkang and Punggol for sale under the April 2011 Build-to-Order (BTO) exercise.

In total, HDB said it will offer 22,000 new BTO flats in 2011 if demand is sustained.

Last year, a total of 16,000 BTO flats were offered.

In addition to the BTO flats, units under the Design, Build & Sell Scheme (DBSS) and the Executive Condominium (EC) Housing Scheme will be offered as well.

An EC site at Punggol with an estimated yield of 700 units, and two DBSS sites at Sengkang and Bendemeer Road with a potential yield of about 1,500 units, will be released for tender in May and June 2011 respectively.

Source : CNA – 25 Apr 2011

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