March resale prices buoyed by demand for bigger HDB flats, Latest Singapore News - The New Paper

March resale prices buoyed by demand for bigger HDB flats

Month-on-month HDB resale prices were up 0.3 per cent in March, based on flash data released on April 8 by SRX and

This is the sixth consecutive month the prices increase while volumes continue to decline, reported The Business Times.

Resale prices in mature estates rose 0.5 per cent while those in newer estates were up 0.6 per cent.

The proportion of resale flats transacted in mature estates was the highest in six months at 40.1 per cent.

OrangeTee Group chief researcher and strategist Christine Sun said these trends suggest an increased demand for pricier HDB resale flats. “This may be due to more private homeowners looking to downgrade to HDB resale flats."

The largest gain in resale prices was from five-room flats with a 1 per cent increase on the month, followed by four-room flats, which was up 0.5 per cent.

A drop in resale prices was recorded by three-room flats with a 0.1 per cent decrease and executive flats, which was down 0.5 per cent.