Resale flat prices are finally starting to slow; but that's not the impression on the ground level. Just about everyone we've spoken to continues to complain of high prices, and the sensational reports of million-dollar flats may not be helping. For a more nuanced perspective, we looked at the performance of three, four, and five-room flats across various neighbourhoods. How...
Resale flat prices are finally starting to slow; but that's not the impression on the ground level. Just about everyone we've spoken to continues to complain of high prices, and the sensational reports of million-dollar flats may not be helping. For a more nuanced perspective, we looked at the performance of three, four, and five-room flats across various neighbourhoods.We averaged the HDB prices for each month by estate across different flat types.
The third highest pick-up was in Serangoon, with the price average up by 1.25 per cent. This isn't surprising, as there's been pent-up demand for flats in the Serangoon area for years. When Serangoon North Vista launched in May, it was oversubscribed 13 times over; and this was one of the first BTO launches we've seen in the area for about nine years.
Realtors said most of the interest in Geylang is still focused on Geylang East. This area is reaping the benefit of Paya Lebar Quarter , which has been transformed into a major commercial hub. HDB flats here are also in a heavily built-up area Interestingly, most realtors felt this is a temporary quirk, and not likely to last. One realtor noted that 1,500 new flats will be built near Bishan MRT by 2025. In addition, more new flats are being built in the Sin Ming area. If you couple this with the age of many Bishan flats , this is likely to cool prices in the long term.