{"id":86794,"date":"2018-04-30T11:06:28","date_gmt":"2018-04-30T04:06:28","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-down-0-8-in-q1\/"},"modified":"2018-04-30T12:05:22","modified_gmt":"2018-04-30T05:05:22","slug":"hdb-resale-prices-down-0-8-in-q1","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-down-0-8-in-q1\/","title":{"rendered":"HDB resale prices down 0.8% in Q1"},"content":{"rendered":"


\nThis is the highest decline seen for resale flat prices in over two years.\u00a0
\nPrices for HDB resale flats fell by 0.8 percent in the first quarter of 2018 \u2013 its highest decline for the last nine quarters since Q1 2016, according to more complete data released by the Housing Board on Friday (27 Apr).
\nThe number of resale transactions also fell to 4,458 units from 5,738 in the fourth quarter of 2017. On a yearly basis, the number of resale transactions fell by 1.6 percent.
\nMore: HDB Resale Prices Continue To Fall In Q1
\nPropNex Realty CEO Ismail Gafoor attributed the continuous price decline to a few groups of sellers who are in urgent need to sell their properties, second-timers who received their new keys with the completion of their Build-To-Order (BTO) flats, new executive condominium upgraders who received the keys to their new homes, and those who are upgrading to private properties this year.
\n\u201cThis has inadvertently created an on stream of supply of resale flats and also kept the prices muted for the past few quarters,\u201d he said.
\nNonetheless, Ismail expects demand for HDB resale flats to improve.
\n\u201cWith the positive sentiment in residential market as well as huge number of en bloc sales in 2017 and 2018, we predict a greater demand for HDB resale properties with some en bloc owners considering bigger sized resale flats in the second half of the year,\u201d he noted.
\n\u201cThere is a likelihood that HDB prices may well experience a muted growth of up to 1.0 percent in 2018.\u201d
\nMeanwhile, the number of approved applications to rent out HDB flats rose 3.9 percent to 11,721 cases in Q1 this year from 11,279 in Q4 2017. On an annual basis, the number of approved applications to rent out HDB flats jumped 17.4 percent.
\nAs of 31 March, a total of 54,329 HDB flats were rented out, up 1.1 percent from the previous quarter.
\nHDB also revealed that it will offer \u201cabout 3,900 new flats in Sengkang, Tampines, Toa Payoh and Yishun in the May 2018 BTO exercise\u201d, in which a concurrent sale of balance flats exercise will also be held.
\nIt added that around 17,000 new flats will be launched for sale this year.
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…HDB resale prices down 0.8% in Q1<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This is the highest decline seen for resale flat prices in over two years.\u00a0 Prices...<\/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-86794","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-mzU","jetpack-related-posts":[{"id":116101,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-not-to-correct-excessively\/","url_meta":{"origin":86794,"position":0},"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":106584,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-down-in-q1-2019\/","url_meta":{"origin":86794,"position":1},"title":"Private Home Prices, HDB Resale Prices Down In Q1 2019","date":"April 26, 2019","format":false,"excerpt":"\r Private home prices in Singapore fell 0.7 percent in the first quarter of 2019, notably larger than the\u00a00.1 percent decrease registered during the previous quarter, showed the Urban Redevelopment Authority (URA) data on Friday (26 April). It is also a notch higher than the 0.6 percent drop estimated by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53173,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-market-to-see-positive-growth-in-2h-2017\/","url_meta":{"origin":86794,"position":2},"title":"HDB market to see positive growth in 2H 2017","date":"April 28, 2017","format":false,"excerpt":"\r HDB resale flat prices fell 0.5 percent in Q1 2017. Resale flat prices in Singapore fell 0.5 percent in Q1 2017 from the previous quarter, according to more detailed statistics released by the Housing and Development Board (HDB) this morning. The resale price index, which tracks the overall price\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98874,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-on-decline-again\/","url_meta":{"origin":86794,"position":3},"title":"HDB resale prices on decline again","date":"October 1, 2018","format":false,"excerpt":"\r Resale flat prices rose slightly in Q2, but reverted to its declining trend in Q3. After a brief stint on the upside, prices of resale flats continued its downward trend as it fell 0.2 percent in the third quarter 2018, revealed flash estimates from the Housing and Development Board\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105685,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-prices-down-in-q1\/","url_meta":{"origin":86794,"position":4},"title":"Singapore home prices down in Q1","date":"April 2, 2019","format":false,"excerpt":"\r The drop in private home prices wasn\u2019t surprising considering the weaker market sentiment following the introduction of new cooling measures last year, said analysts. Private home prices fell for the second straight quarter, dropping 0.6 percent in the first quarter of 2019 from the previous three-month period, according to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72659,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/temporary-blip-in-hdb-resale-transactions-dwindling-first-timer-demand\/","url_meta":{"origin":86794,"position":5},"title":"Temporary blip in HDB resale transactions, dwindling first-timer demand","date":"November 23, 2017","format":false,"excerpt":"\r View of HDB flats in the Ghim Moh area. (Photo: Chen Siyuan: Wikimedia Commons) The latest data showed a 0.7 percent drop in HDB resale prices in Q3 as compared to the previous quarter. We investigate some reasons for this. By Hock Meng Tay The latest HDB resale data\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/11\/GuruView-1024x281.png?fit=1024%2C281&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86794"}],"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=86794"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86794\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=86794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=86794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=86794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}