HDB resale prices dipped 0.3% in December 2019
The 3-room flats recorded the sharpest decline in prices at 0.8%.
HDB resale prices fell 0.3% MoM in December, according to data from SRX. On a yearly basis, prices climbed 0.4% YoY.
Prices of 3-room flats posted the sharpest decline at 0.8% MoM, followed by 4-room and 5-room at 0.4% and 0.1% respectively. Meanwhile, executive prices edged up 0.5%. Both mature and non-mature estates prices dipped 0.4% and 0.2%, respectively.
According to OrangeTee & Tie head of research and consultancy Christine Sun, policy changes like the Enhanced CPF Housing Grant and increased flexibility of CPF usage for the purchase of older flats may have spurred more purchases in recent months.
A 4-room unit at Pinnacle@Duxton posted the highest transacted price for a resale flat in the month at $1.06m. Amongst non-mature estates, a 5-Room Premium Apartment Loft unit at Treelodge@Punggol was the priciest at $871,000.
At the same time, resale volume slipped 3% MoM to 1,858 units, but jumped 29.6% YoY. For 2019, resale transaction volumes grew 3.4% to 22,477 units.
Sun noted this to be one of the strongest December sales in recent years, and that the on-month decline is seasonal as most potential buyers are on holiday.
Four in 10 (41.3%) of the volume for the month came from 4-room flats. It is followed by 3-room at 25.8%, 5-room at 23.3% and executive at 7.7%. The rest are from 2-room flats.
About 4,785 flats will be eligible to join the HDB resale market in the next three months.