Dip In Resale Flat Prices Points To Market Stabilization

February 2017 was a little sluggish for the resale HDB flat market as costs dropped by 0.3% as well as transactions by 8.5%. This was following an encouraging start to the year. However market specialists are not also quick to reject the opportunities for the industry as the year continues. The small dip last month was probably because of the post Chinese Brand-new year lull which is an usual occurence. As opposed to being a measure of a dropping resale level market, the decline just points at a stabilizing market enironment. Though resale flat customers paid around $2,000 less than market price across the board, some HDB estates remained to clock more than 10 transactions as well as at costs over market price.

In Bedok, some purchasers paid $10,000 as well as more for their resale flats while in Clementi, some purchases closed at $4,000 over market value. That comes as no surprise as these are mature HDB estates where demand is high. There were additionally some current private property launches in the vicinity, as an example the Clement Cover, which might have had some recurring effect on the resale HDB flat market. There were however a number of HDB communities which did not publish as promising numbers despite being prominent areas for level seekers. In Queenstown, the lowest below-market rates were clocked at $12,500, followed by $10,000 in Ang Mo Kio. Prices of 3-room private condo increased by 0.2% while exec level rates dropped by 1.7% such as Parc Botannia Sengkang condo. Generally, rates of resale apartments in mature estates increased by 1.1%.