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Last Week in Numbers: HDB Resale Prices Dip in January

HDB resale prices decreased 0.5% from December while sales volumes declined 31.4%, according to SRX Property flash estimates. The resale prices of three-room and five-room flats decreased by 2.3% and 1.2% respectively. Four room and executive flat resale prices inched up by 1.3% and 0.4% respectively.

Prices in mature estates dipped 1.8% while those in non-mature estates increased 0.5% from a month ago. Year-on-year, January prices in mature estates declined 2.3% while those in non-mature estates dropped 1.8%. On a yearly basis, overall resale prices declined 2%. Current resale prices represent a 13% decline since the peak in April 2013, nearly five years ago.

Resale volume in January dropped to 1,089 units from 1,587 in December. This is also 8.7% less than the 1,193 units resold in January of 2017. Last month’s total resale volume represents a 70.2% drop from its peak of 3,649 in May 2010, almost 8 years ago.

Since its opening on 31 October 2017, Changi Airport Terminal 4 has handled more than 9,400 flights and 1.6 million passengers. With the addition of VietJet in March, T4 will serve a total of 11 airlines flying to 21 regional destinations.

US stocks suffered their biggest decline in six years on Monday. The Dow Jones Industrial Average – one of the oldest US stock market indices – dropped 1,175 points, a 4.6% decline, to 24,246. This came despite the fact that the US economy maintained their strong growth, and wage numbers and the job market remained strong. After another rollercoaster four-days, the DJIA ended the week at 24,190 points.

Indonesia’s already fast-growing economy picked up pace in the fourth quarter of last year. Gross domestic product (GDP) rose 5.19%, while full-year growth stood at 5.07%. This is the fastest that Indonesia’s economy has grown in four years. Consumption, which represents the largest share of Indonesia’s economy, grew by slightly less than 5% in the fourth quarter from a year ago. Investments grew by 7.27%, up from 7.11% in the third quarter. Exports and imports grew by 9.09% and 8.06%, respectively. Government spending increased 2.14% for the full year.

US congressional leaders reached a two-year budget deal to raise government spending by close to US$300 billion. The additional spending would not be offset by any spending cuts or tax revenue, leading to an increase in the federal deficit. A congressional source said that the agreement would increase non-defense spending by US$131 billion, including US$20 billion on infrastructure. It would also increase funding for Children’s Health Insurance Program (CHIP) to 10 years from six currently.

Hong Kong’s property-related loan pipeline has grown to US$13.2 billion. According to Bloomberg, total potential funding for the real-estate sector accounts for over 40% of total upcoming loan volume in the city. Perhaps the most notable deal is the HK$33 billion package for a Chinese consortium’s purchase of a prominent office tower. This is possibly the largest loan in Hong Kong in more than two years. The positive news comes as bank loans to property developers rose 28% last year, faster than the overall loan growth of 16%.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice.