HDB resale prices climb for 4th consecutive quarter; volume dips

The Straits Times2021-04-23

[SINGAPORE] THE Housing Board resale market remained steadily robust in the first quarter of this year amid Covid-19 vaccine optimism, as prices of resale flats rose for the fourth consecutive quarter...

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Comments

kerukel88
2021-04-23
kerukel88
Great
ORNEGU
2021-04-23
ORNEGU
Great!
ParableTalen
2021-04-23
ParableTalen
Wondering when will the cooling measures set in. Waiting for people to be vocal about it.
- pandajojo:
  Dun think the measures will be drastic, ppl will stop buying in the 1st few months, after things will still be the same..
JovenTey
2021-04-23
JovenTey
Shag

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These include popular projects such as The Pinnacle @ Duxton at Cantonment Road, where a handful of five-room flats on high floors have sold for more than S$1 million in recent years.Woodlands clocked the lowest median resale price at S$380,000 for a four-room flat, while Sembawang followed closely at S$399,000.Demand for HDB resale flats started gaining traction in the second half of last year, after Singapore came out of a two-month-long circuit breaker period to curb the spread of the Covid-19, with resale prices steadily inching up in recent months.However, overall resale volume dipped slightly last quarter on the back of higher resale prices and rising cash over valuation (COV).The number of transactions fell 0.8 per cent from 7,642 units in the fourth quarter of 2020 to 7,581 units in the first quarter of this year.Compared to the first quarter last year when 5,893 units changed hands, resale volume rose 28.6 per cent.Ms Sun said: \"Last quarter, many flats were sold with COV. Multiple offers and price bidding wars for choice flats were common as buyers were willing to shell out extra for premium flats as they believe that supply of these flats are limited especially for newer resale flats in mature estates.\"Demand for rental HDB flats also rose last quarter despite rising rents, as many foreigners choose to stay put and renew their leases due to border restrictions.The number of approved applications to rent out HDB flats rose by 26.0 per cent from 8,472 cases in the fourth quarter of last year to 10,676 cases in the first quarter of this year.As for Build-To-Order (BTO) flats, HDB will offer about 3,800 such flats in Bukit Merah, Geylang, Tengah and Woodlands next month.In August, it will launch another 4,900 BTO flats in Hougang, Jurong East, Kallang /Whampoa, Queenstown and Tampines.HDB said it will calibrate the supply if required, given the economic uncertainty due to Covid-19.Ms Sun said the completion period for BTO projects in the two upcoming exercises is likely to remain long as there is a backlog of projects facing construction delays caused by the pandemic.Current waiting time for a new BTO flat ranges from three years to five years, based on the timeline released in the previous two BTO exercises.\"The situation could be exacerbated as further construction delays may be expected as a result of new quarantine orders arising from the recent resurgence of Covid-19 cases in certain dormitories,\" said Ms Sun.","kind":"news","is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":376754755,"gmtCreate":1619151878377,"gmtModify":1704720454206,"author":{"id":"3580376639553291","authorId":"3580376639553291","name":"kerukel88","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3580376639553291","authorIdStr":"3580376639553291"},"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376754755","repostId":1105596163,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":376725241,"gmtCreate":1619150862583,"gmtModify":1704720438775,"author":{"id":"3576314755404440","authorId":"3576314755404440","name":"ORNEGU","avatar":"https://static.tigerbbs.com/cc9a0db1a49cb16e404b18823322d904","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3576314755404440","authorIdStr":"3576314755404440"},"htmlText":"Great!","listText":"Great!","text":"Great!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376725241","repostId":1105596163,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":376781490,"gmtCreate":1619148911610,"gmtModify":1704720405891,"author":{"id":"3580300192386766","authorId":"3580300192386766","name":"ParableTalen","avatar":"https://static.tigerbbs.com/94daa928259bc550d0ee26f23a953bb8","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3580300192386766","authorIdStr":"3580300192386766"},"htmlText":"Wondering when will the cooling measures set in. Waiting for people to be vocal about it.","listText":"Wondering when will the cooling measures set in. Waiting for people to be vocal about it.","text":"Wondering when will the cooling measures set in. Waiting for people to be vocal about it.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/376781490","repostId":1105596163,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4110331,"gmtCreate":1619149264977,"gmtModify":1680785230778,"authorId":3578965435978206,"author":{"id":3578965435978206,"idStr":"3578965435978206","authorId":3578965435978206,"name":"pandajojo","avatar":"https://static.tigerbbs.com/7efe44a2514d987c5a8b342b85d6f229","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":376781490,"type":1,"supId":0,"prevId":0,"content":"Dun think the measures will be drastic,&nbsp; ppl will stop buying in the 1st few months,&nbsp; after things will still be the same..","text":"Dun think the measures will be drastic,&nbsp; ppl will stop buying in the 1st few months,&nbsp; after things will still be the same..","html":"Dun think the measures will be drastic,&nbsp; ppl will stop buying in the 1st few months,&nbsp; after things will still be the same.."}],"langContent":"EN"},{"id":376789123,"gmtCreate":1619148779862,"gmtModify":1704720402497,"author":{"id":"3579935024398704","authorId":"3579935024398704","name":"JovenTey","avatar":"https://static.tigerbbs.com/c5ff355ce66d2d38bade5b7ba95269dc","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579935024398704","authorIdStr":"3579935024398704"},"htmlText":"Shag","listText":"Shag","text":"Shag","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376789123","repostId":1105596163,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":17,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1105596163"}