After a tepid spike in January, resale prices for Housing Board flats quickly headed back south last month.
The fall is likely to be a result of continued cooling measures, as well as the Chinese New Year period, which traditionally sees fewer transactions, said analysts.
Prices fell 0.6 per cent last month from January, and 5.7 per cent from a year ago, according to SRX Property flash figures released yesterday.
Last month’s dip came after a slight rise in January, when prices edged up by a marginal 0.2 per cent, which SRX Property revised from the 0.6 per cent increase reported previously.
Last month’s drop was driven by resale prices of three-room, four-room and executive flats, which decreased by 1.2 per cent, 0.6 per cent and 0.4 per cent respectively. Resale prices for five-room flats remained stable.Ongoing cooling measures are another reason for the sustained downward trend in resale prices, said experts.
Indeed, last month’s resale volume was the second lowest in a year at 1,148 units, down from the 1,255 units in January.- See more at: http://business.asiaone.com/news/hdb-resale-prices-slide-back-down-06#sthash.yj8KemvJ.dpuf