HDB flat resale costs climb for twenty fifth straight month; Queenstown resale flat bought for document $1,418,000

HDB flat resale costs climb for twenty fifth straight month; Queenstown resale flat bought for document ,418,000

SINGAPORE – Housing Board flat resale costs rose for the twenty fifth consecutive month in July, with costs growing by a median of 0.7 per cent in contrast with June.
Of the two,363 flats transacted final month, 33 items had been bought for a minimum of $1 million, together with a five-room premier house loft unit in Queenstown’s SkyTerrace @ Dawson that bought for $1,418,000 – the most costly resale flat in historical past.
The earlier document was the $1.4 million logged by a five-room HDB flat at Block 96A Henderson Highway in Could.

Non-mature property Bukit Batok additionally recorded its first million-dollar transaction final month, when an govt flat was bought for $1,005,000. Two different non-mature estates – Hougang and Woodlands – additionally had a million-dollar sale every.
Among the many mature estates, Bishan recorded 10 million-dollar flats final month, whereas Ang Mo Kio had 5 such transactions and Queenstown had 4.
Resale volumes in July had been up 10.5 per cent from 2,139 in June.

These flash figures had been revealed by property portals 99.co and SRX in a report on Thursday (Aug 4).

The report stated that in contrast with June, transaction costs in mature estates elevated by a median of 0.8 per cent, whereas these in non-mature estates elevated by 0.6 per cent.
When damaged down by flat kind, govt flat costs had the most important month-on-month progress at 1.2 per cent, whereas three- and four-room flat costs went up by 0.6 per cent and five-room flat costs elevated by 0.5 per cent.
In contrast with July final 12 months, flat costs have elevated by 11.6 per cent general, whereas transaction volumes have dropped by 11.3 per cent year-on-year, with 2,663 flats bought in July final 12 months.

Ms Christine Solar, senior vice-president of analysis and analytics at OrangeTee and Tie, stated that whereas July’s resale volumes are at a six-month excessive, the gross sales restoration has not been robust for the reason that Authorities carried out measures to chill the property market in December final 12 months.
The measures included elevating extra purchaser’s stamp responsibility charges, in addition to tightening the loan-to-value restrict for studios, which determines how a lot cash patrons can borrow to purchase the property.
“Escalating house costs could have dampened sentiment as general resale costs have already risen 6.1 per cent over the previous six months,” she stated, including that latest Construct-To-Order launches could have drawn some demand away from resale flats.
Senior analyst for analysis and content material creation at One International Group, Mr Mohan Sandrasegeran, stated the month-on-month improve in resale volumes displays “the interesting nature of the fastened rates of interest supplied by HDB” for risk-averse patrons.
He stated that any rate of interest hikes by banks or HDB could trigger a slowdown in resale transactions.

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