View of HDB flats in Toa Payoh.
UPDATED: Prices of resale flats fell 0.1 percent in the second quarter of 2017 from the previous three-month period, according to the latest HDB Resale Price Index.
Resale flat transactions rose 32.5 percent to 6,001 cases in Q2, from 4,530 cases in Q1.
Meanwhile, the number of subletting applications approved rose 9.5 percent quarter-on-quarter to 10,929 cases in Q2.
As at 30 June, there were 53,540 HDB flats being sublet, up 0.3 percent from Q1.
SEE ALSO: Get the Guru View: HDB resale – A buyer’s market
Eugene Lim, Key Executive Officer at ERA Realty Network, expects resale flat prices to remain stable due to most units being transacted around valuation. “Prices will probably decrease by less than one percent in 2017,” he said.
Despite the introduction of the re-offer of balance flats scheme and the shorter waiting time for new flats, he expects resale demand to remain strong.
“This is because there will always be a group of buyers who do not want to wait for a flat, or are looking for a flat in a particular location. As such, we are expecting transactions for 2017 to range between 21,000 to 22,000,” he noted.
In August, the Housing Board will launch about 3,850 Build-To-Order flats in Bukit Batok and Sengkang, as well as 1,394 balance flats.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email firstname.lastname@example.org