HDB resale prices rise 2.8% in Q1: Flash data, Housing News & Top Stories

SINGAPORE – Housing Board resale prices rose for a fourth consecutive quarter, climbing 2.8 per cent in the first three months of this year over the previous quarter, according to HDB flash estimates released on Thursday (April 1).

Year on year, resale prices were up by 8 per cent.

Last quarter’s HDB resale prices are also just 5 per cent lower than their peak price recorded in the second quarter of 2013, said OrangeTee & Tie’s senior vice-president of research & analytics Christine Sun.

At the current pace of price growth, a new peak may be formed by the second half of this year, she said.

Citing HDB data, Ms Sun said average prices in the January-March period rose quarter-on-quarter in 22 of the 26 HDB towns. Toa Payoh (17 per cent, 244 units), Bukit Timah (11.2 per cent, 28 units) and Bedok (8 per cent, 402 units) posted the highest quarterly increases.

Ms Sun added that 2021 was likely to see a new record number of million-dollar HDB flats sold.

53 resale flats have changed hands for at least $1 million in the first quarter, the highest quarterly sales of million-dollar flats on record, or since 1990, she said. This number has already surpassed the total number of million-dollar flats transacted in the years before 2018.

HDB on Thursday also announced the launch of 8,700 build-to-order (BTO) flats.

Of these, 3,800 will be offered for sale in May. These will be located in Bukit Merah, Geylang, Tengah and Woodlands.

In August, another 4,900 flats in Hougang, Jurong East, Kallang Whampoa, Queenstown and Tampines will open for sale.

“Given the economic uncertainty due to Covid-19, HDB is monitoring the housing market closely and will calibrate the supply if required,” it said.

More information on the BTO flats is available on the HDB InfoWEB.

HDB added that there are flats available for open booking. Eligible flat-buyers can apply on the HDB InfoWEB and book a unit. Booking will be done on a first-come-first-served basis.

HDB resale prices rise 2.8% in Q1: Flash data, Housing News & Top Stories Source link HDB resale prices rise 2.8% in Q1: Flash data, Housing News & Top Stories

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