HDB data showed that five-room flats in Queenstown recorded the highest median resale price at S$852,500, followed by Bukit Merah at S$817,500 and Clementi at S$815,000.
But prices of resale flats held steady, she pointed out, continuing the trend in the past five years where price changes have been within a narrow band of between minus 1 per cent and 1 per cent. Latest figures also show that HDB approved 4 per cent fewer applications to rent out flats in the first quarter of the year - 11,591 cases compared with 12,079 in the previous quarter - a decrease which both realtors attributed to the pandemic.
Mr Mak agreed, observing that rental transactions failed to increase despite the Malaysian lockdown that left many Malaysians working or studying here rushing to find accommodation.“We can almost write off the second quarter due to the eight-week circuit breaker period. The HDB resale volume in the second quarter could drop to less than half of the volume in Q1 2020,” he said. “However, it could bounce back once the circuit breaker period is lifted.
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