get an agent

Buy with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Browse New Launch Condos

Find new units for sale

Browse Resale Listings

Connect with sellers through our app

RESOURCES

Calculate Buyer’s Stamp Duty

Find the amount payable when buying

Affordability Calculator

Find the amount payable when buying

How to Buy an HDB

A step-by-step guide to buying HDB

How to Buy a Private Property

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

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Post a Listing for Free

Connect with buyers through our app

RESOURCES

Calculate Seller’s Stamp Duty

Find the amount payable when selling

How to Sell my HDB

A step-by-step guide to selling HDB

How to Sell my Private Property

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

HOME E-VALUATION

For tenants

Rent with an Agent

Dedicated experts at your service

RESOURCES

How to Rent an HDB

A step-by-step guide to renting HDB

How to Rent a Private Property

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

For landlords

Lease with an Agent

Dedicated experts at your service

Lease Documentation

Leave the paperwork to us

RESOURCES

How to Lease an HDB

A step-by-step guide to renting HDB

How to Lease a Private Property

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

Do it yourself

ARTICLE CATEGORIES

HDB

All things about public housing

Private Property

All things about private property

Home Improvement

Guides for must-know reno tips

Financing

All about mortgage solutions

Towns

Singapore townships in focus

Client Stories

Success stories from customers

Founders’ Message

From the desks of Rhonda & Race Wong

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

Property News: Rise in HDB Resale Flats Sold in May

Ohmyhome

Ohmyhome

Share on facebook
Share on email
Share on whatsapp

As we’re nearing the end of June, it’s time to take a look at how the HDB real estate market fared throughout the past few months to better inform your buying decisions for the rest of the year.

Increase in HDB flats sold in May

A total of 2,075 HDB flats were sold last month, indicating an increase of 7.5% from the number of sale transactions in April (1,931 units). These numbers show a consistent growth pattern as there was also a 26.1% jump in the number of resale transactions in March (1,657 units) as compared to February.

Decrease in HDB Resale Prices

While more and more HDB flats were transacted, the HDB resale prices are showing a slight dip with a 0.2% decrease across both mature and non-mature estates. Those who are on the lookout for a three-room, four-room or five-room flat will be pleased to know that prices dropped by 0.2% for these flat types. Likewise, executive flats also show a decrease of 0.6%. Perhaps these favourable conditions have contributed to the boost in the number of resale transactions for the month of May.

Possible factors for the rise in resale transactions

property-news-rise-hdb-resale-flats-sold-may-ohmyhome-Possible-factors-for-the-rise-in-resale-transactions

Relaxed CPF rule changes

One factor could be due to the recent implementation of the relaxed CPF rule changes. The new rules are based on whether the property’s remaining lease can cover the youngest home buyer up to the age of at least 95 years old. According to the authorities, this gives greater flexibility to home buyers when buying older flats, while at the same time ensuring sufficient funds for retirement. This is good news for older home buyers looking to get older homes in mature estates.

More BTOs reached their Minimum Occupation Period (MOP)

Could it also be due to a growing preference for 5-year-old BTO flats that just entered the resale market? Around 27,000 BTOs and 26,000 resale flats reached their MOP this year. With this much supply, there’s clearly no shortage for discerning buyers with a penchant for BTOs.

So, what can we expect to see in the next few months?

Our trusty Ohmyhome agent foresees that the market will continue to see more downward pressure due to economic uncertainty. Prices for resale flats have moderated and that’s why we are seeing more transaction volume as prices are getting more affordable. On top of that, we should be seeing the transaction volume increase slightly in the coming months as well.

We’re definitely keeping our eyes peeled on the resale price index (note: which tracks HDB price patterns) for any noticeable trends. Statistics aside, buying a resale HDB flat without an agent is faster than ever with the help of our one-stop property platform that lets you find homes, chat directly with homeowners and transact at no cost. If you’re not ready to DIY, let our team of top-tier agents assist you in your home transaction journey from start to finish. Call 6886 9009 to find out more!

Sources: BusinessTimes, SingaporeBusinessReview, ChannelNewsAsia, StraitsTimes


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.

Subscribe Now

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

Featured Blogs

Your one-stop guide for must-know HDB tips

get an agent

Buy with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

Do it yourself

Browse New Launch Condos

Find new units for sale

Browse Resale Properties

Download the app and speak directly to sellers

RESOURCES

Affordability Calculator

Calculate required tax for selling

Calculate Buyer’s Stamp Duty

Find the amount payable when buying

How to Buy an HDB

A step-by-step guide to buying HDB

How to Buy a Private Property

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

bUY OVERSEAS

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Post a Listing for Free

Download the app and connect with buyers

RESOURCES

Free Home 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

get an agent

Rent with an Agent

Dedicated experts at your service

do it yourself

Browse Rental Listings

Download the app and connect with landlords

RESOURCES

How to Rent an HDB

A step-by-step guide to renting HDB

How to Rent a Private Property

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

get an agent

Lease with an Agent

Dedicated experts at your service

Lease Documentation

Leave the paperwork to us

do it yourself

Post a Listing for Free

Download the app and connect with tenants

RESOURCES

How to Lease my HDB

A step-by-step guide to renting out an HDB

How to Lease my Private Property

A step-by-step guide to renting out condo/landed

FEATURED ARTICLES

Condo Renting 101: Where to Look, Sizes and Cost

Looking for a condominium to rent ...

Ohmyhome Raises US$5M in Series A+ Funding

Ohmyhome, the leading Property 
One-Stop Shop Platform

ARTICLE CATEGORIES

HDB

All things about public housing

Private Property

All things about private property

Home Improvement

Guides for must-know reno tips

Financing

All about mortgage solutions

Towns

Singapore townships in focus

Client Stories

Success stories from customers

Founders’ Message

From the desks of Rhonda & Race Wong

Social media

Other