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Singapore's public housing flat resale prices remain unchanged in May

Xinhua, June 4, 2015 Adjust font size:

Resale prices for Housing and Development Board (HDB) flats in Singapore remain unchanged overall in May compared with the previous month, according to the latest flash estimates released by Singapore Real Estate Exchange (SRX) on Thursday.

SRX said that resale prices for three-room flats declined by 0. 2 percent, and those for four-room flats dropped by 0.9 percent. On the contrary, prices of five-room flats rose by 0.7 percent, and those for executive flats edged up by 1.3 percent.

On a year-on-year basis, resale prices have dropped 5.0 percent compared with the same month in 2014. Resale prices have declined 11.0 percent since the peak in April 2013.

In terms of resale volume, almost 1,580 units changed hands in May, which is a 2.2 percent decrease compared with the preceding month when resale volume hit its highest in two years.

About 80 percent of the resident population in Singapore live in high-rise flats built by the HDB and sold to local households under the basic principle of one unit per household. Endi