There has been a decline of 0.9 per cent in the prices of resale flats in Singapore in 2018 compared to the year before, revealed the flash estimates released by the Housing and Development Board (HDB) today.
According to HDB’s resale price index, prices fell to an estimated 0.2 per cent in the fourth quarter of 2018 alone.
The resale price index provides information on the general price movements in the resale pubic housing market. It fell from 131.6 in the third quarter to 131.4 in the October to December period.
The resale price index for the full quarter, together with more detailed public housing data, will be released on Jan 25.
In 2019, HDB will launch around 15,000 new flats for sale. For the first Build-To-Order (BTO) exercise to be launched in February 2019, HDB will offer about 3,100 flats in Jurong West, Kallang Whampoa and Sengkang.
In addition to this, there will also be a concurrent Re-Offer of Balance Flats exercise.
Experts opine that the cooling measures will affect the private residential market more, and this could have the side effect of driving more buyers to the HDB resale market, especially those who are on a tighter budget.