This is the ninth straight quarter of decline for HDB resale prices but the slowest pace to date.
Flash estimates of the Resale Price Index (RPI) of Housing and Development Board (HDB) flats showed a decline of 0.3% over the previous quarter.
The resale price fall marks the ninth straight quarter of decline.
Compared to the 0.4% drop in the second quarter, the decline in prices has slowed down. This is in line with expectations of stabilizing prices.
However, analysts still expect to see a fall in prices in the following months. In addition to the cooling measures that are still in place, there is also increasing competition from other HDB launches such as the 7,000 Build-To-Order (BTO) flats releasing in November.
The full report will be released on Oct 23 by HDB, along with more details about other public housing data.
For more information, visit The Straits Times and Channel News Asia.
If you enjoyed this article, you might be interested in Things you should consider when buying an older HDB resale flat and Biggest turn-offs for homebuyers when purchasing a resale property.
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