SINGAPORE (EDGEPROP) - Despite HDB resale transactions plunging 41.9% q-o-q in 2Q2020, the public clearly preferred some neighbourhoods over others.
Among the mature estates, Tampines emerged the top choice, transacting 217 units in 2Q, highlights OrangeTee & Tie in its report on the public housing market. This is followed by Bedok, with 180 units sold, and Ang Mo Kio, where 161 units changed hands.
In Bishan, public flats recorded the highest average prices in 2Q, at $630,923, followed by flats in Bukit Timah, at $621,300. This is followed by HDB flats in Queenstown, which fetched average prices of $601,852 over the quarter.
Overall, resale transactions in the mature estates fell by 40.4%, from 2,230 units in 1Q to 1,329 units in 2Q.
Meanwhile, the number of flats that changed hands across non-mature estates fell by 41.8% from 3,282 units in 1Q to 1,909 units in 2Q.
Read More: HDB resale transaction volume plunges by 41.9% q-o-q in 2Q2020
More than 200 units were transacted in a number of non-mature estates. Yishun was the most popular, with 283 units sold, followed by Sengkang, which saw 260 flats sold, and Woodlands, at 223 transactions. Elsewhere, Jurong West moved 210 units while Punggol transacted 200 units.
Flats in Hougang were the most expensive, fetching average prices of $455,936 over 2Q. This is followed by Punggol at $449,226, Sengkang at $445,635, and Bukit Panjang at $421,038.
To that end, OrangeTee & Tie expects HDB resale prices to trend between –2% and 1% this year, highlighting that a significant price correction is unlikely unless the pandemic worsens and unemployment rate rises significantly.
However, it cautions that a supply overhang caused by many HDB flats reaching their five-year Minimum Occupation Period could exert downward pressure on prices.
Check out the latest listings near Tampines, Bedok, Bishan, Bukit Timah, Queenstown, Yishun, Sengkang, Woodlands, Jurong West, Punggol, Hougang and Bukit Panjang
Read Also: