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.
A 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