HDB resale prices slide further despite lifting of wait-out period

Early estimates released on October 1 showed HDB resale prices declined by 0.2 per cent, marking the third consecutive quarterly downturn for the sector. The persistent softening underscores mounting headwinds in the housing market, even as policymakers attempted to ease restrictions on flat transactions.

The Housing and Development Board lifted its 15-month minimum wait-out period in September, a move intended to increase supply and liquidity in the resale market. The policy change allowed owners to sell their flats sooner, removing a key constraint that had previously limited transaction volumes. However, the measure has yet to reverse the downward price trajectory.

The consecutive quarterly declines suggest cooling demand in the resale segment amid broader economic uncertainties. Market observers are closely watching whether the removal of the holding period will eventually stabilise prices or if additional factors—including interest rate pressures and household finances—continue to dampen buyer sentiment.

Analysts note that while the price dip remains modest, the persistence of negative growth across multiple quarters warrants attention. The situation contrasts with earlier periods of robust growth in Singapore's public housing market, raising questions about the sustainability of the current correction and its implications for homeowners and prospective buyers.