HDB resale prices rise 0.9% in November, but volumes decline

Resale prices of Housing Board flats inched up 0.9 per cent in November from the previous month and rose 10.4 per cent year on year, based on flash data from SRX and 99.co released on Dec 4.

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With 1,951 resale units transacted in November, volumes were lower by 9.6 per cent from October's 2,158 units and down 8.7 per cent on a yearly basis, marking the fourth straight month of decline.

Mr Luqman Hakim, chief data and analytics officer at 99.co, noted that the price increase in November was "supported by steady demand, especially for flats in mature estates known for their central locations and accessibility".

He added: "The seasonal slowdown, coupled with the lingering effects of cooling measures, contributed to lower transaction volumes.

"Many prospective buyers might have stepped back temporarily, with some focusing on their next move after the oversubscribed October Build-To-Order (BTO) launches. Those unable to secure a flat may return to the resale market after the holiday season, potentially driving activity in the months ahead."

Ms Wong Siew Ying, PropNex's head of research and content, attributed the decline in resale flat volume to the effects of the reduction in the loan-to-value limit for HDB housing loans from 80 per cent to 75 per cent that was implemented in August and the slower market activity due to the year-end seasonal lull.