HDB resale prices rise 2.3% in Q4, slowest increase in 2022, Latest Singapore News - The New Paper

HDB resale prices rise 2.3% in Q4, slowest increase in 2022

This article is more than 12 months old

Prices in the Housing Board resale market rose for the 11th consecutive quarter, even as price growth slowed and the number of transactions declined on the back of property cooling measures that kicked in on Sept 30.

Resale prices rose at a slower pace of 2.3 per cent in the last quarter of 2022, compared with 2.6 per cent in the third quarter, data released by HDB on Friday showed.

This was the slowest quarter-to-quarter price growth in 2022, noted HDB.

Resale prices grew by 10.4 per cent in the whole of 2022, slower than the 12.7 per cent rise in 2021, it added.

A total of 6,597 HDB resale flats changed hands in the last quarter of 2022, a decline of 12.6 per cent from the 7,546 in the previous quarter, when the number of transactions went up after falling for three quarters.

HDB said it will launch up to 23,000 Build-To-Order flats in 2023, and monitor housing demand to adjust flat launches as needed.

In February, it will roll out about 4,400 BTO flats in towns such as Jurong West, Kallang Whampoa, Queenstown and Tengah.

In May, between 3,800 and 4,800 flats will be on offer in towns such as Bedok, Kallang Whampoa, Queenstown, Serangoon and Tengah.