PropNex analysis on Q2 2016 HDB/URA data
Public home prices largely flat in first half of 2016
HDB resale prices remained unchanged in Q2 2016 - the index has shown marginal price movements up and down in the past 3 quarters, therefore it is obvious that prices in a consolidation phase.
Mr Ismail Gafoor, PropNex Realty CEO said, “with prices consolidating, transactions will pick up. Buyers who have remained on the side-lines should have, by now, understood that prices will not fall very much more below this level. The prolonged price expectation mismatch between re-sellers and buyers has reached a stage whereby the stakeholders realised that this is the new ‘norm’. They have played a wait-and see strategy for some time now and will be making their moves soon.”