HDB resale prices edge down 0.1% in third quarter despite higher transaction volumes

The Housing and Development Board's latest quarterly report revealed that resale prices declined marginally by 0.1% in the third quarter, marking a slight softening in Singapore's public housing market. Despite the price dip, transaction volumes rose noticeably following the removal of the government's cooling measures on HDB resale transactions.

The uptick in sales activity reflects renewed buyer interest after the lifting of restrictions that had previously dampened market momentum. Higher volumes typically indicate improved market liquidity, as more buyers and sellers were able to transact at their preferred price points.

However, the HDB noted that the anticipated wave of private property owners taking the opportunity to downgrade to public housing has not materialised significantly. This suggests that wealthy property holders are not rushing to exit the private market despite improved affordability in the HDB sector, indicating continued preference for private residential properties among this segment.

Analysts pointed to the modest price decline as reflective of a market in equilibrium, where transaction activity normalised after the cooling measure period without triggering significant price pressures. The data indicates a stabilising resale market with sustained demand from genuine homebuyers seeking public housing options.