{"id":117944,"date":"2020-07-24T12:52:37","date_gmt":"2020-07-24T05:52:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-in-q2-while-transaction-volume-drop\/"},"modified":"2020-07-24T13:03:52","modified_gmt":"2020-07-24T06:03:52","slug":"hdb-resale-prices-up-in-q2-while-transaction-volume-drop","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-in-q2-while-transaction-volume-drop\/","title":{"rendered":"HDB resale prices up in Q2, while transaction volume drop"},"content":{"rendered":"


\nResale transactions fell by more than 41.9% to 3,426 units in Q2 2020 from the previous quarter\u2019s 5,893 units.\u00a0
\nResale 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.
\nOrangeTee noted resale prices \u201chave not undergone a steep correction despite the onslaught of an unprecedented global health crisis and macroeconomic shocks for more than six months\u201d.
\nThis comes as the four rounds of \u201caggressive stimulus packages unleashed by the Singapore government seem effective in preventing a housing market meltdown or property price collapse\u201d.
\nThe number of resale transactions, however, fell by more than 41.9% to 3,426 units in Q2 2020 from the previous quarter\u2019s 5,893 units. On an annual basis, resale volume dropped 45.4% from Q2 2019\u2019s 6,276 units.
\nRead also:\u00a0HDB Rental Prices for 3, 4 and 5-Room Flats in Singapore (2020)
\nChristine Sun, Head of Research and Consultancy at OrangeTee attributed the sales decline to the tighter safe distancing measures enforced during the circuit breaker and the COVID-19 pandemic.
\n\u201cEven with the use of virtual home tours, augmented reality and e-open houses, some buyers face difficulty overcoming the psychological barrier of sealing the deal without first inspecting the unit in person,\u201d she said.
\nIn Q2 2020, the number of approved applications to rent out HDB flats declined 9.1% to 10,539 units from 11,591 units in Q1 2020. On a yearly basis, the number of approved applications in Q2 2020 was down 14.6% from the 11,775 units in Q1 2019.
\nDespite the generally subdued market sentiment, OrangeTee expects demand to return to some normalcy over the coming months since house viewings have resumed fully.
\n\u201cMarket confidence is returning gradually since the COVID situation has stabilised in Singapore. In light of the current macroeconomic uncertainties, we estimate that the total resale transactions for 2020 may be lower than last year at around 18,000 to 20,000 units,\u201d she said.
\n\u201cAt this juncture, a significant price correction is rather remote unless the global health crisis spirals out of control and our unemployment number creeps up significantly.\u201d
\nBut with many HDB flats reaching their five-year Minimum Occupation Period, a supply overhang may continue to exert downward pressure on prices.
\n\u201cThe overall resale price could range between -2% and 1% this year,\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 up in Q2, while transaction volume drop<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Resale transactions fell by more than 41.9% to 3,426 units in Q2 2020 from 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-117944","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-uGk","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":117944,"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":122742,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-transactions-up-in-q3\/","url_meta":{"origin":117944,"position":1},"title":"HDB resale prices, transactions up in Q3","date":"October 22, 2021","format":false,"excerpt":"\r Quarter-on-quarter, Q3 2021 HDB resale prices\u00a0increased\u00a02.9% while\u00a0transaction volumes increased 19.4%. Resale prices for Housing and Development Board (HDB) flats rose 2.9% in the third quarter of 2021, moderating from the 3% increase registered in the previous quarter, showed HDB data on Friday (22 October). Nonetheless, it is still slightly\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/Pine-Close-HDB-flat-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":121031,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-hdb-resale-prices-increase-for-fifth-consecutive-quarter\/","url_meta":{"origin":117944,"position":2},"title":"Private home, HDB resale prices increase for fifth consecutive quarter","date":"July 23, 2021","format":false,"excerpt":"\r Private home and resale flat prices have continued to climb for the fifth straight quarter, as demand for properties continued to be strong in Q2 2021 despite the Phase 2 (Heightened Alert) measures.\u00a0 Singapore\u2019s housing market has continued to remain resilient amid the COVID-19 pandemic, with private home prices\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/Singapore-condo.original.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":120572,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-continue-to-increase-in-q2-2021\/","url_meta":{"origin":117944,"position":3},"title":"Private home prices, HDB resale prices continue to increase in Q2 2021","date":"July 1, 2021","format":false,"excerpt":"\r Private home prices, HDB resale prices continue to increase in Q2 2021Private home prices and HDB resale prices continue to increase in the second quarter of 2021, showed the URA and HDB flash estimates.\u00a0 Singapore saw private home prices and HDB resale prices continue to increase in the second\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/HDB-MRT-station.jpg?fit=819%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":116101,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-not-to-correct-excessively\/","url_meta":{"origin":117944,"position":4},"title":"HDB resale prices not to \u201ccorrect excessively\u201d","date":"May 6, 2020","format":false,"excerpt":"\r OrangeTee & 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 While housing demand may ease should the Covid-19 pandemic persist, OrangeTee & Tie does not expect resale prices of Housing and Development Board (HDB) flats\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70172,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-transactions-drop-in-q3\/","url_meta":{"origin":117944,"position":5},"title":"HDB resale prices, transactions drop in Q3","date":"October 27, 2017","format":false,"excerpt":"\r View of HDB flats in Ghim Moh. Prices and transactions of resale flats fell in the third quarter of 2017, according to latest data released by the Housing and Development Board (HDB) on Friday (27 October). The Resale Price Index declined by 0.7 percent, compared to a 0.1 percent\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\/117944"}],"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=117944"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/117944\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=117944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=117944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=117944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}