SRX resale property price index up 0.1% on month in Dec


SRX released their flash estimates for the 2017 December HDB resale prices which saw a 0.1% increase, reversing a sequential drop of 0.1% November.

Despite the monthly increase, December 2017’s reading is down 1.8% from December 2016, indicating that a recovery in the HDB resale market is not yet on the cards.

SRX SPI HDB ResaleA muted level of resale transaction volumes also show that recovery may be some way off. At 1,585 units transacted in December 2017, this is 20% lower than the previous month.

An average of 1,600 HDB resale units have been transacted monthly over the past 12 months.

Also read: Singapore property outlook 2018 – 3 things to look out for

In terms of median resale prices, SRX notes that Bishan has the highest at S$711,000 followed by Bukit Timah at S$704,000.

On the lower end, prices in Ang Mo Kio were at S$316,000.

Across the Singapore market, HDB resale prices were transacted at a median of S$418,000 in December 2017.

Now for those who are thinking of buying a resale flat, prices have been on a downtrend for more than a year, and it may be an opportune time to enter.

Remember however that ALL HDB flats are on a 99 year lease basis, and if you’re buying a resale unit, it will be even shorter.

Also read: House prices along MRT lines


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