HDB resale prices expected to reach bottom of price cycle soon

Singapore

WITH final figures from the Housing & Development Board (HDB) confirming a 0.4 per cent drop in HDB resale prices here in the second quarter, property market watchers believe that the public housing market is on track to reach the bottom of the price cycle soon.

The price fall during the second quarter was most moderate across the eight straight quarters of decline and followed a one per cent drop in resale prices during the first quarter.

Lower prices has drawn buyers, with resale transactions jumping 27.8 per cent quarter-on-quarter to 5,286. In particular, the number of resale four-room flats transacted in the second quarter leapt by 31.8 per cent from a quarter ago to 2,120 while the number of five-r…