The full article can be found in The Straits Times, Homepage, 28 July 2018.
Prices of resale Housing and Development Board (HDB) flats have dropped since the peak in Q2 2013 but according to data released by the HDB last Friday, July 27, resale price index rose slightly by 0.1 per cent.
However, ZACD Executive Director and Chief Investment Officer, Nicholas Mak cautioned against reading too much into the jump in transaction volume, as records over the past 13 years show the same bump in the second quarter of each year.
The slight increase in the prices of resale HDB came amid strong gains in the private property market.
Calling the increase in the resale price index a marginal improvement, Nicholas said, “The increase is so minimal that further observation in the next few months is needed to determine if this is truly the start of a market recovery.”
He added, “If the recovery of the HDB resale price index is sustainable, the rate of growth for the entire year will likely be gradual and almost flat, ranging from -0.3 per cent to +1.5 per cent year on year.”
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