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With transaction volumes increasing, it seems that the HDB resale market is out of the doldrums. Overall sales have begun to pick up, with 19,015 units changing hands, a 10 percent increase from 17,318 i 2014.
Declines in prices have also slowed, dipping by 1.6 percent over the course of 2014, a much smaller decline than 6.1 percent the year before. In the final quarter of 2015, the HDB resale price index actually saw a 0.2 percent quarter-on-quarter increase, breaking the pattern of quarterly declines.
For 2016, we think that transactions will gather momentum, as the market gains optimism. Buyers waiting in the sidelines will be tempted to enter, as they see that prices have come down sufficiently. We think that the market will see about 4,200 to 5,400 units move each quarter in 2016.
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This article was written by Chew Chang Hui, Content Marketing Manager for PropertyGuru. To contact him about this or other stories email chang@propertyguru.com.sg