For the 5th consecutive month a drop has been seen in resale prices for HDB properties. From May to June the figure was recorded at 0.6% which has marked a new 2 year low since April of 2012. This equates to a drop of 6.1% from one year ago as well as a fall of 3% year to date if going by Singapore Real Estate’s data which took into account unit rental information and any pre-caveat resale transactions.
A downturn could be seen, in resale figures for last month, in 3, 4 and 5 room resale flats. However, executive HDB flats saw a 1.3% rebound in resale prices for month on month in June. It has been forecasted by property consultants that HDB resale prices will show a further 8% softening for the entire year of 2014.