World · Singapore Bureau
HDB resale prices decline for third quarter running
Housing and Development Board data shows continued downward pressure on resale flat prices, with limited uptake from private property owners despite policy changes aimed at widening the buyer pool.
LSN Singapore ·
Singapore's HDB resale market has recorded price declines for the third consecutive quarter, according to the latest flash estimate released by the Housing and Development Board.
The ongoing weakness in the resale segment reflects subdued demand even after the government removed the 15-month wait-out period for private home owners and former private property owners seeking to purchase HDB flats. The policy change, designed to broaden the potential buyer base, has yet to generate the anticipated surge in transactions or pricing support.
The Board noted that neither the volume of resale transactions nor price levels have experienced meaningful growth from these previously ineligible buyer categories since the restriction was lifted. This suggests that factors beyond regulatory barriers may be constraining demand in the resale market, including broader economic conditions and affordability considerations.
The successive quarterly declines underscore growing softness in the secondary HDB market, marking a reversal from earlier periods of stronger appreciation. Analysts are monitoring whether the market will stabilize or continue its downward trajectory in coming quarters as economic conditions and buyer sentiment remain fluid.
The HDB data provides a timely snapshot of residential market dynamics as Singapore's property sector navigates shifting economic headwinds and evolving buyer preferences across different housing segments.