New Reporter
26-01-24, 10:35
HDB resale prices rise 1.1% in Q4 as growth slows; up 4.9% in 2023
Jan 26, 2024
RESALE prices of public housing flats continued to rise in the fourth quarter of 2023 but at a slower pace on the quarter, indicated data from the Housing and Development Board (HDB).
Prices were up 1.1 per cent, lower than the 1.3 per cent growth recorded in the third quarter and below the average quarterly growth of 2.5 per cent for the whole of 2022, HDB announced on Friday (Jan 26).
The number of resale transactions eased 2.2 per cent in the fourth quarter to 6,547 cases – the lowest fourth-quarter volume since 2020. Year on year, resale transactions were down 0.8 per cent.
For the full year, resale prices were up 4.9 per cent, compared with the 10.4 per cent increase in 2022. Volumes were down 4.2 per cent to 26,735 cases from 27,896 cases, HDB said.
The central region was the HDB town with the highest median resale price of three-room flats at S$481,500, while the lowest was recorded in Geylang at S$345,000.
The highest median resale price for four-room flats was recorded in Queenstown at S$928,000, while the lowest median price came from Bukit Panjang at S$503,000.
For five-room flats, the highest median price was recorded in Bukit Merah at S$959,000, while the lowest was recorded in Jurong West at S$588,000.
The highest median resale price for executive flats was S$895,000, coming from Hougang, while the lowest median price was recorded in Jurong West at S$698,000.
Rental demand for HDB flats eased slightly in Q4. The number of rental applications approved by HDB slipped 0.7 per cent to 9,787 cases from 9,852 cases in Q3.
This brought the total number of flats rented out in the quarter to 58,159 units, an increase of 0.6 per cent from the previous quarter’s tally of 57,797 units.
The highest median rental price was S$4,300 for a five-room flat in Queenstown, while the lowest recorded was S$2,200 for two-room flats in Bukit Merah and three-room flats in Bukit Panjang.
HDB will offer around 4,100 flats across Bedok, Queenstown, Choa Chu Kang, Hougang, Punggol and Woodlands in its February Build-To-Order (BTO) exercise. It will also offer some 1,500 flats under its Sale of Balance Flats exercise.
The public housing authority noted that 19,600 BTO flats will be launched in 2024. Among these flats, 2,800 units will have shorter waiting times of less than three years.
https://www.businesstimes.com.sg/property/hdb-resale-prices-rise-11-q4-growth-slows-49-2023
Jan 26, 2024
RESALE prices of public housing flats continued to rise in the fourth quarter of 2023 but at a slower pace on the quarter, indicated data from the Housing and Development Board (HDB).
Prices were up 1.1 per cent, lower than the 1.3 per cent growth recorded in the third quarter and below the average quarterly growth of 2.5 per cent for the whole of 2022, HDB announced on Friday (Jan 26).
The number of resale transactions eased 2.2 per cent in the fourth quarter to 6,547 cases – the lowest fourth-quarter volume since 2020. Year on year, resale transactions were down 0.8 per cent.
For the full year, resale prices were up 4.9 per cent, compared with the 10.4 per cent increase in 2022. Volumes were down 4.2 per cent to 26,735 cases from 27,896 cases, HDB said.
The central region was the HDB town with the highest median resale price of three-room flats at S$481,500, while the lowest was recorded in Geylang at S$345,000.
The highest median resale price for four-room flats was recorded in Queenstown at S$928,000, while the lowest median price came from Bukit Panjang at S$503,000.
For five-room flats, the highest median price was recorded in Bukit Merah at S$959,000, while the lowest was recorded in Jurong West at S$588,000.
The highest median resale price for executive flats was S$895,000, coming from Hougang, while the lowest median price was recorded in Jurong West at S$698,000.
Rental demand for HDB flats eased slightly in Q4. The number of rental applications approved by HDB slipped 0.7 per cent to 9,787 cases from 9,852 cases in Q3.
This brought the total number of flats rented out in the quarter to 58,159 units, an increase of 0.6 per cent from the previous quarter’s tally of 57,797 units.
The highest median rental price was S$4,300 for a five-room flat in Queenstown, while the lowest recorded was S$2,200 for two-room flats in Bukit Merah and three-room flats in Bukit Panjang.
HDB will offer around 4,100 flats across Bedok, Queenstown, Choa Chu Kang, Hougang, Punggol and Woodlands in its February Build-To-Order (BTO) exercise. It will also offer some 1,500 flats under its Sale of Balance Flats exercise.
The public housing authority noted that 19,600 BTO flats will be launched in 2024. Among these flats, 2,800 units will have shorter waiting times of less than three years.
https://www.businesstimes.com.sg/property/hdb-resale-prices-rise-11-q4-growth-slows-49-2023