Tag Archives: drop

HDB resale volime looking to major correction in 2014

Resale prices will slip by as much as 7%.

A bleak resale market awaits families looking to sell their HDB flats. HDB resale volume is expected to hit a ten-year low this year, with volume hovering around 16,500-17,000 units.

According to PropNex, HDB resale prices will continue heading south and are expected to soften 6-7% for the full year 2014.

Prices will remain impacted by a looming flood of new homes and the continued impact of property measures such as lower mortgage servicing ratio, shorter loan tenure and a minimum three-year waiting period for PRs wanting to buy HDB resale flats.

The outlook for 2015 also looks bleak with a possible 5 to 6 per cent full year drop. This is mainly due to the increased number of 2nd timers collecting their keys to their new BTO flats, and they will have to sell their existing flats within 6 months. This figure is expected to be about 6,000 annually for the next 2 years.

“Home buyers are more restrained if their MSR is over 30 per cent or TDSR is near 60 per cent. Loan curbs and softer prices will ultimately mean that HDB upgraders will find it more prohibitive to upgrade to a private property,” noted PropNex CEO Mohamed Ismail.

– See more at: http://sbr.com.sg/residential-property/news/hdb-resale-volume-will-crash-10-year-low-year-report#sthash.QMQsBRHh.dpuf

Price drops in property launches

In a uncompleted project in the prime katong area of Meyer, price drops were given by the developer. 1 bedders priced up to $1.18M has dropped to prices from $1.097M. 2 bedders have been dropped from up $1.498M to prices from $1.416M. Those with garden units were priced from $1307psf onwards. It is a indeed a good bargain for those looking to invest in Meyer area. In another project in Telok Kurau area, 2 bedroom units start from $1.4M for a new launch. In another project in Jalan Singa, prices start from $702K for a freehold properties. Property hunters could be in time to look for bargains before government intervenes.