Time is running out for Singapore’s oldest HDB flats as prices flatten and demand slows 

[SINGAPORE] Nearly 300 blocks of Singapore’s oldest Housing & Development Board (HDB) flats are entering the final 30-year stretch of their 99-year leases – and data points to a shrinking resale market and flattening prices for these ageing properties.

Asking prices and resale values for the first HDB flats built in the 1960s have held up as the resale market on the whole continued to rise, especially over the last five years. But set against the broader market and compared to valuations, the picture is less rosy.

Data crunched by property listing platform PropertyGuru for The Business Times indicates that median asking prices of HDB flats built in the 1960s held steady in the past year, up 1.6 per cent to S$375,000.