PropertyGuru added that it expects the demand for HDB resale flats to remain driven by families who urgently need homes and who do not want to wait out lengthy BTO completion times
show that despite high demand, the growth of prices of resale flats is moderating, which is likely due to an increase in BTO launches and easing construction delays after pandemic restrictions.
This quarter’s increase of less than two per cent, 171.9 points in Q4 2022 to 173.6 points in Q1 2023, is the smallest quarter-on-quarter increase observed in the last ten quarters, although it should still be noted that there have been 12 consecutive quarters of the price increase. Over 16,000 “flats are expected to fulfil their MOP this year, with the bulk of these flats located in. These HDB estates are likely to see greater resale flat price growth this year,” the company said.
“Despite challenges such as still-high interest rates and borrowing costs, uncertain economic outlook and tighter property curbs, this was the twelfth consecutive quarter of price growth.
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