Yet another decline in HDB sales in the Singapore market which can only mean good news for couples whom are looking to buy their flat fast. With more interest on Exective Condo by those that can afford it and all the cooling measure, this can only mean better news ahead for flat buyers.
HDB's flash estimate of Q2 2014 Resale Price Index (RPI) is 196.0, a decline of 1.3 percent over Q1 2014 and this marks a price drop for fourth consecutive quarters. In a statement, PropNex said the falling resale prices can be due to various government measures to cool the public housing market, such as reducing the Mortgage Servicing Ratio (MSR) cap of 30 per cent and the maximum loan term of 25 years for HDB mortgage loans. The three-year wait before new PRs can buy resale flats, and allowing singles to buy two-room BTO flats in non-mature estates are also likely to be contributing factors, and these measures work in tandem to reduce the resale demand.