HDB resale volume dips to 30-year low in May, but prices hold up

Singapore

HOUSING and Development Board (HDB) flat resale volumes tumbled still further last month, following the already record low number of flats resold in April and dropping to levels not seen in the last thirty years, figures from real estate portal SRX showed on Thursday.

Just 364 flats changed hands in May, a 13.9 per cent decrease from the 423 resold in April. Both figures logged during the circuit breaker months were lower than the previous record low of 778 flats resold 30 years ago in May 1990.