HDB Resale Volume Falls Third-month in a Row in October
HDB Resale Volume Falls Third-month in a Row in October
"The sales decline could be attributed to some buyers shifting to the Transaction volume fell 2.7% in October, whilst it dropped 14.9% in September.
十月份成交量下降了2.7%，而九月份下降了14.9%。
Housing & Development Board resale prices in Singapore rose by 0.3% in October on a month-month (MoM) basis, whilst transaction volume dipped 2.7% MoM to 2,158 HDB resales.
新加坡房屋發展局10月份的二手房轉售價格按月上漲了0.3%，而交易量下降了2.7%，降至2,158套HDB轉售房。
This marks the third consecutive month that transaction volume has declined.
這標誌着交易量連續第三個月下降。
"The sales decline could be attributed to some buyers shifting to the primary market, as the government launched more than 8,500 new flats in the October BTO sales launch," according to Christine Sun, Chief Researcher & Strategist at OrangeTee in a note.
「銷售下降可能歸因於一些購房者轉向一手房市場，因爲政府在10月推出的BTO銷售中推出了超過8,500套新居。」據OrangeTee首席研究員兼策略師Christine Sun在一份備忘錄中表示。
"The sales launch offered a variety of housing options for eligible buyers, with many new flats having shorter completion times, creating competition for resale flats," Sun added.
「銷售推出爲符合條件的購房者提供了多種住房選擇，許多新居建成時間更短，增加了與轉售房的競爭，」 Sun補充道。
Likewise, Luqman Hakim, Chief Data & Analytics Officer at 99.co said the new flats, particularly those with shorter waiting times, are likely to attract buyers seeking quicker housing solutions. This could potentially divert demand from the resale market. Meanwhile, if upcoming BTO launches maintain similar appeal, this could weigh on resale demand and slow price growth over time.
同樣，99.co的首席數據與分析官Luqman Hakim表示，新居，尤其是等待時間較短的新居，可能會吸引尋求更快住房解決方案的購房者。這可能會從轉售市場轉移需求。與此同時，如果即將推出的BTO項目保持類似的吸引力，這可能會對轉售需求產生影響，並隨着時間推移而減緩價格增長。
Meanwhile, for Mark Yip, CEO, of Huttons Asia, the market was "stable" in October.
與此同時，Huttons Asia的首席執行官Mark Yip表示，市場在10月份「穩定」。
"The introduction of cooling measures in Aug 2024 may have led to some buyers holding back their purchase.
“2024年8月出台的降溫措施可能導致一些購房者推遲購房。
This could be temporary and activities may return to normal in the next few months as the reduction in LTV is not expected to have a big impact on the resale market," Yip said in a note.
「這可能是暫時的，隨着貸款價值比的降低不太可能對二手市場產生重大影響，活動可能在未來幾個月內恢復正常，」克莉絲汀在一份說明中說。
Mature Estate prices edged up by 0.1% and Non-Mature Estate prices increased by 0.5%. By flat type, prices for 3-room units went up by 0.4%, 5-room units by 0.2%, and Executive flats by 1.8%, whilst 4-room units saw a slight decline of 0.2%.
成熟的屋邨價格微漲0.1%，非成熟的屋邨價格增長0.5%。按單位類型，3房單位價格上漲0.4%，5房單位上漲0.2%，行政單位上漲1.8%，而4房單位略有下降0.2%。
Year-on-year (YoY), HDB resale prices increased by 9.8% from October 2023. Specifically, 3-room flats rose by 9.8%, 4-room flats by 10.1%, 5-room flats by 9.2%, and Executive flats by 8.3%. Mature Estates and Non-Mature Estates also saw annual price increases of 8.6% and 10%, respectively.
從2023年10月份開始，HDb轉售價較去年同期增長了9.8%。具體來說，3房單位上漲了9.8%，4房單位上漲了10.1%，5房單位上漲了9.2%，行政單位上漲了8.3%。成熟和非成熟的屋邨分別看到了年度價格增長，分別爲8.6%和10%。
Of the October transactions, 27.1% were 3-room flats, 42.7% were 4-room, 23.5% were 5-room, and 6.6% were Executive flats. Non-Mature Estates accounted for 60.9% of the sales, whilst Mature Estates made up the remaining 39.1%.
在十月的交易中，27.1%是3房單位，42.7%是4房，23.5%是5房，6.6%是行政單位。非成熟的屋邨佔銷售的60.9%，而成熟的屋邨佔剩下的39.1%。
The highest resale transaction in October was S$1.54m for a 5-room flat on Cantonment Road, with the highest in Non-Mature Estates at S$1.155m for an Executive flat on Woodlands Street 82.
十月份最高的轉售交易是在康德門路上售出154萬新元的一間5房單位，而非成熟的屋邨中最高的是在兀蘭第82街以115.5萬新元出售的一間行政單位。
A total of 103 HDB resale flats sold for at least S$1m, slightly down from 106 in September, representing 4.8% of the month's resale transactions.
共有103間HDb轉售單位至少售出了100萬新元，略低於九月的106間，佔當月轉售交易的4.8%。
Toa Payoh recorded the most million-dollar sales with 18 units, followed by Kallang/Whampoa with 15, Bukit Merah with 13, and Queenstown with 12. Other million-dollar sales were spread across areas including Bishan, Ang Mo Kio, and Woodlands.
大巴窯以18個單位記錄了最多的百萬級銷售，其次是加冷/黃埔有15個、紅山有13個以及女皇鎮有12個。其他百萬級銷售分佈在包括碧山、宏茂橋和兀蘭在內的地區。
Outlook
展望
For Hutton's Yip, "interest rate is beginning to trend downwards and it may lead to more demand for HDB resale flats. Prices may continue to increase in the coming months,"
對於何頓的葉來說，「利率期貨開始下降，可能會導致對HDb轉售公寓的需求增加。未來幾個月價格可能會繼續上漲。」
The impact of high asking prices and the BTO launch contributed to a decline in resale transaction volume in October. Nonetheless, demand is projected to recover in the coming months as lower interest rates reduce borrowing costs, supporting higher loan amounts, according to Hakim in a research note.
高要價和BTO推出的影響導致了10月份轉售交易量的下降。然而，隨着較低利率降低借款成本，支持更高貸款金額，據哈基姆在一份研究報告中表示，預計需求將在未來幾個月恢復。
Similarly, Sun expects demand to stay subdued in the next two months, whilst buying activity traditionally declines during the year-end holiday season.
同樣，Sun預計未來兩個月需求將保持低迷，而購買活動在年末假期季節傳統上會下降。
"Nevertheless, many BTO projects in the October sales exercise were oversubscribed. Those who do not get a queue number may opt for the resale market instead of waiting for the next launch, which will occur in four months," Sun said.
「然而，10月銷售活動中許多BTO項目都出現了超額認購。那些沒有得到排隊號碼的人可能會選擇轉售市場，而不是等待下一次推出，下次推出將在四個月後進行，」 Sun說。
Meanwhile, resale prices are projected to remain steady, largely due to the limited supply of flats meeting the 5-year Minimum Occupation Period (MOP) requirement.
與此同時，由於符合5年最短居住期限（MOP）要求的公寓供應有限，轉售價格預計將保持穩定。
"Furthermore, sellers in prime or desirable locations may use the 5-year Minimum Occupation Period (MOP) as a bargaining chip since new flats in similar locations require a longer, 10-year MOP," concluded Sun.
此外，在黃金地段或理想位置的賣家可能會將5年最短居住期限（MOP）作爲一個籌碼，因爲類似位置的新公寓需要更長的10年MOP，”Sun總結道。
