{"id":116101,"date":"2020-05-06T12:04:46","date_gmt":"2020-05-06T05:04:46","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-not-to-correct-excessively\/"},"modified":"2020-05-06T12:07:54","modified_gmt":"2020-05-06T05:07:54","slug":"hdb-resale-prices-not-to-correct-excessively","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-not-to-correct-excessively\/","title":{"rendered":"HDB resale prices not to \u201ccorrect excessively\u201d"},"content":{"rendered":"


\nOrangeTee & Tie\u00a0expects property sales to \u201cpick up speed and regain some momentum when the crisis subsides and safe distancing measures are gradually eased\u201d.\u00a0
\nWhile housing demand may ease should the Covid-19 pandemic persist, OrangeTee & Tie does not expect resale prices of Housing and Development Board (HDB) flats to correct excessively in the coming months.
\nThis comes as HDB resale prices are not usually subject to volatile swings since most people acquire flats for their own occupation and not for speculation, it said in a report.
\nIn fact, the HDB Resale Price Index held flat in the first quarter of 2020 compared to the previous quarter.
\nHDB data for Q1 2020 also showed that total resale volume fell 7% quarter-on-quarter to 5,893 units. On an annual basis, resale volume increased by 21.9%.
\nBased on caveat records from data.gov.sg, there were 5,531 caveats in Q1 2020, or the highest first-quarter resale volume registered in eight years.
\nRelated:\u00a0The URA Caveat: Why It\u2019s So Irresistibly Good
\n\u201cDemand had remained buoyed prior to the onset of the pandemic, indicating that the policy changes were effective in boosting the housing market last year,\u201d said the report.
\nThe government introduced various policy changes last year aimed at improving housing affordability for buyers as well as demand of flats. These include enhanced CPF Housing Grant, increased income ceiling and larger home loans for eligible buyers.
\nRead: Buying an HDB? Here\u2019s What Changed in The CPF Usage and HDB Loan Update
\nHDB data revealed that fewer small flats were transacted during the period under review. In Q1 2020, resale applications for one-, two- and three-bedroom flats fell 10.2% to 1,531.
\nThe number of resale transactions for bigger flats, such as four-, five-bedroom and executive units dropped 5.9%, with 4,362 resale applications received in Q1 2020.
\nCiting information from data.gov.sg, the report noted that the average price of both standard and non-standard flats within mature estates slipped 0.1% and 0.6% quarter-on-quarter in Q1 2020. On an annual basis, prices dipped 1% and 3.3% for standard and non-standard flats, respectively.
\nOver in non-mature estates, prices of both flat types increased 0.5% quarter-on-quarter and 2.6% year-on-year, possibly due to their longer balance lease. Standard flats in non-mature estates also climbed 0.8% quarter-on-quarter and 2.5% year-on-year.
\nLooking ahead, Christine Sun, Head of Research and Consultancy at OrangeTee & Tie, expects property sales to \u201cpick up speed and regain some momentum when the crisis subsides and safe distancing measures are gradually eased\u201d.
\n\u201cGenuine buyers and those with urgent housing needs may return to the market when flat viewings resume,\u201d she said.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…HDB resale prices not to \u201ccorrect excessively\u201d<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

OrangeTee & Tie\u00a0expects property sales to \u201cpick up speed and regain some momentum when the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-116101","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-ucB","jetpack-related-posts":[{"id":118092,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-market-avoided-major-price-correction-during-pandemic-orangetee-amp-tie\/","url_meta":{"origin":116101,"position":0},"title":"HDB resale market avoided major price correction during pandemic: OrangeTee &amp; Tie","date":"August 5, 2020","format":false,"excerpt":"\r Despite the COVID-19 pandemic and circuit breaker measures, HDB resale prices remained stable. However, HDB resale transactions fell by over 41.9% to 3,426 units during Q2 2020.\u00a0 Despite the COVID-19 pandemic and the uncertain global economic outlook, Singapore\u2019s HDB resale market avoided a major price correction, with prices remaining\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113352,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-0-4-in-q4-2019\/","url_meta":{"origin":116101,"position":1},"title":"HDB resale prices up 0.4% in Q4 2019","date":"January 2, 2020","format":false,"excerpt":"\r As such, the HDB Resale Price Index (RPI), which measures overall price movements of resale HDB flats, is now 131.4.\u00a0 Resale prices of HDB flats have continued to climb in Q4 2019, raising by 0.4% from the 0.1% increase in Q3 2019, according to the latest HDB flash estimates.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2020\/01\/HDB-flash-estimates-Q4-2019.png?fit=600%2C343&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":117944,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-in-q2-while-transaction-volume-drop\/","url_meta":{"origin":116101,"position":2},"title":"HDB resale prices up in Q2, while transaction volume drop","date":"July 24, 2020","format":false,"excerpt":"\r Resale transactions fell by more than 41.9% to 3,426 units in Q2 2020 from the previous quarter\u2019s 5,893 units.\u00a0 Resale prices of Housing and Development Board (HDB) flats increased 0.3% quarter-on-quarter in the second quarter of 2020, after holding flat in the previous quarter. OrangeTee noted resale prices \u201chave\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109704,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cpf-rule-changes-likely-sparked-demand-for-older-hdb-flats\/","url_meta":{"origin":116101,"position":3},"title":"CPF rule changes likely sparked demand for older HDB flats","date":"August 7, 2019","format":false,"excerpt":"\r The government\u2019s policy updates on Central Provident Fund (CPF) usage and Housing and Development Board (HDB) housing loans may have given the HDB resale market a new lease of life. This comes as demand for older HDB flats surged in the second quarter of 2019, with the number of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95053,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-rise-for-the-first-time-in-nine-quarters\/","url_meta":{"origin":116101,"position":4},"title":"HDB resale prices rise for the first time in nine quarters","date":"July 30, 2018","format":false,"excerpt":"\r The latest round of property curbs is expected to make buyers turn to the HDB resale market, where properties are cheaper. Prices of resale Housing Board flats climbed 0.1 percent in the second quarter of 2018 \u2013 its first increase after nine quarters of decline \u2013 hinting that HDB\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113849,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-transaction-up-2-7-in-2019\/","url_meta":{"origin":116101,"position":5},"title":"HDB resale transaction up 2.7% in 2019","date":"January 24, 2020","format":false,"excerpt":"\r Resale flat prices also rose 0.5% quarter-on-quarter.\u00a0 There were 23,714 resale flat transactions in 2019, the highest in 7 years. This figure is also 2.7% higher compared to 2018, where there were 23,099 transactions, based on HDB\u2019s Q4 2019 public housing data.\u00a0 On a quarterly basis, resale transactions increased\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/116101"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=116101"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/116101\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=116101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=116101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=116101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}