HDB resale prices fall for third consecutive quarter: Flash estimate

Despite the continued price decline, the volume of resale transactions remained “broadly stable”, HDB said.

As of Sep 29, 7,528 resale transactions were recorded in the third quarter, 5.2 per cent higher than the 7,157 transactions over the same period last year.

HDB said it has not observed a significant increase in either the prices or number of resale flats purchased by private residential property owners and former private property owners since the 15-month wait-out period for these buyers was removed on Jul 28.

The rule, introduced in September 2022 as a temporary measure to moderate housing demand, had required private property owners and former owners to wait 15 months before buying a non-subsidised HDB resale flat.

National Development Minister Chee Hong Tat announced on Jul 28 that market conditions have improved and the government had assessed that the 15-month wait-out period had met its purpose.

HDB said on Thursday that it would continue to monitor the resale market.