Property News: HDB Resale Price Index Up by 0.1% in Q3 2019

Ohmyhome

Ohmyhome

Share on facebook
Share on email
Share on whatsapp

For those closely following the HDB Resale Price Index every quarter, we’ve got news for you!

After showing a back-to-back downward trend for the past four quarters (based on this year’s HDB Resale Price Index, Q1 and Q2 saw a continual 0.3% and 0.2% decline respectively), it seems that the third quarter of 2019 (flash estimate) has shown a slight increase, with resale prices going up by 0.1%.

There is movement in the Resale Price Index this Q3! What could have caused its sudden jump and what does this mean for resale flat prices going forward? Here’s a tentative look at what lies ahead for the HDB resale market.

What caused the price index to increase in Q3?

The HDB market is currently experiencing a number of developments.

The slight spike could be attributed to an upsurge in old flat sales due to recent CPF changes. The new, old flat friendly CPF rules were recently introduced on 9 May 2019 as a way to allow greater flexibility for buyers of older flats and prevent them from out-living their leases, while at the same time ensuring sufficient funds for retirement. The new rules are based on whether the property’s remaining lease can cover the youngest homebuyer up to the age of at least 95 years old. This is good news for home buyers looking to get older homes in mature estates and old flat owners who want to sell their property.

Does this mean prices will dramatically increase?

Don’t start worrying about soaring HDB prices yet! While it’s too soon to tell, experts say that prices will not deviate too sharply from its current trajectory.

Interested in buying an HDB resale flat? Check out our trusted HDB Buyer Agent Services starting from a fixed fee of $2,888! Call our friendly customer care team at 6886 9009 to learn more!

Sources: HDB, Straits Times


Related posts:


While the Information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact on the accuracy of the Information. The Information may change without notice and Ohmyhome is not in any way liable for the accuracy of any information printed and stored or in any way interpreted and used by a user.

Consult an expert for free!

Send us your details and we’ll be in touch within 15 min (daily 9am to 9pm GMT +8).

or

Contact us your way

Talk to us today. Available daily 9 AM to 9 PM (GMT +8)

Subscribe Now

Get a notification every time we upload a new blog post.

Fixed-Fee Agent Service for Buyers

Ready to buy your dream home?

Fixed-Fee Agent Service for Buyers

Ready to buy your dream home?

SHARE WITH YOUR FRIENDS!

Share on facebook
Share on twitter
Share on whatsapp
Share on email

Consult an expert for free!

Send us your details and we’ll be in touch within 15 min (daily 9am to 9pm GMT +8).

or

Featured Blogs

Highlighting unique property views for every Singaporean

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Prefer to do-it-yourself?

Check out how our platform can help

Post a Listing for Free

Download the app and connect with buyers

RESOURCES

Ohmyhome E-Valuation

Know the value of your property in seconds!

Calculate Seller’s Stamp Duty

Find the amount payable when selling

How to Sell an HDB

A step-by-step guide to selling HDB

How to Sell my Private Property

A step-by-step guide to selling condo/landed

OHMYHOME E-VALUATION