Almost seven times as many Housing Board (HDB) resale flats were sold last month compared with May, according to flash data released by real estate portal SRX Property yesterday.

Estimates showed that about 2,450 HDB resale flats were sold last month, up from 364 the month before.

The surge in sales was likely due to the end of Singapore’s circuit breaker period, said industry analysts.

ERA Realty’s head of research and consultancy Nicholas Mak said: “Pent-up demand accumulated in the eight-week circuit breaker had driven up HDB resale transaction volume in June 2020 to 6.7 times the volume in the preceding month.

“During the circuit breaker period, potential home buyers and property agents were not allowed to visit and view any properties offered for sale. When buyers were allowed to view properties in June, the result was a sharp increase in transactions of HDB resale flats.”

He added that the resale volume last month was also the highest monthly volume since July 2018, when 2,553 units were transacted.

Read more at: https://www.straitstimes.com/singapore/housing/hdb-resale-volume-surges-in-june

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