Business

HDB resale prices dip 0.5 per cent in January

HDB resale prices dipped 0.5 per cent last month compared with December last year, along with a 31.4 per cent drop in sales volume, according to SRX Property flash estimates released yesterday.

Resale prices have slipped by 2 per cent compared with January 2017 and fallen by 13 per cent from the peak in April 2013.

Based on SRX Property estimates, 1,089 HDB resale flats were sold last month, down from 1,587 in December last year. Resale volume fell by 8.7 per cent from 1,193 in January 2017.

The decrease in resale deals reflects how people are busier as they return to work after the December school holidays, said Mr Chris Koh, director of real estate agency Chris International.

Also, some buyers and sellers are waiting to see how the new HDB resale portal works, he said.

The portal, launched on Jan 1, promises to cut transaction time for buying and selling HDB resale flats from 16 weeks to eight weeks.

Property