In the public housing segment, prices of resale flats fell for second consecutive quarter with a 0.6% decline in 1Q2017, following a 0.1% q-o-q dip in 4Q2016.
“This could possibly be an one off occurrence,” according to Eugene Lim, key executive officer at ERA Realty Network. He notes that the main cause could be the low volume of resale transactions seen over the January and February period due to the Chinese New Year season.
Lim remains optimistic that the HDB resale market has largely stabilised. He expects HDB resale transaction volume to increase to about 22,000 to 23,000 units in 2017, with prices edging up slightly by 0.1% to 0.5% for the full year.
In May 2017, HDB will roll out about 4,600 Build-To-Order (BTO) flats Woodlands, Yishun, Bidadari and Geylang. HDB also plan to offer about 3,000 balance flats.