Business and Management

Dip In Resale Flat Costs Indicate Market Stabilization

February 2017 was a little slow-moving for the resale HDB flat market as costs stopped by 0.3% along with deals by 8.5%. This was complying with an encouraging beginning to the year. However market specialists are not also fast to deny the opportunities for the industry as the year proceeds. The tiny dip last month was probably as a result of the message Chinese Brand-new year lull which is a normal occurence. As opposed to being a procedure of a dropping resale level market, the decline simply directs at a stabilizing market enironment. Though resale flat clients paid about $2,000 less than market price across the board, some HDB estates remained to clock more than 10 purchases in addition to at prices over market value.

In Bedok, some buyers paid $10,000 in addition to more for their resale flats while in Clementi, some acquisitions closed at $4,000 over market price. That comes as no surprise as these are fully grown HDB estates where demand is high. There were in addition some present private property launches around, as an instance the Clement Cover, which could have had some repeating effect on the resale HDB flat market. There were nevertheless a number of HDB areas which did not release as promising numbers in spite of being prominent areas for level hunters. In Queenstown, the lowest below-market prices were clocked at $12,500, followed by $10,000 in Ang Mo Kio. Rates of 3-room personal condominium enhanced by 0.2% while exec level rates stopped by 1.7% such as Avenue South Residence Bukit Merah Condo. Normally, prices of resale apartments in mature estates raised by 1.1%.