02 October 2015
In Q3 flash estimates released by HDB, resale prices fell 0.3 per cent to 134.6 points — the eighth consecutive quarter of decline. This continued decline comes after a 0.7 per cent and 6.2 per cent contraction in 2013 and 2014 respectively. The last time HDB resale prices fell for an extended period was way back in 2000 when prices fell for eight consecutive quarters from Q2 2000 to Q1 2002.
Mr Ismail Gafoor, PropNex Realty CEO said, “The potent combination of the measures has been effective at slowing down the price growth of HDB resale prices. We continue to expect resale prices to fall for the next quarter of the year, but prices may have reached a bottoming-out level as this is the lowest decline in more than 2 years.”
