Private homes prices up 0.5% despite lower sales in Q3

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Private homes prices up 0.5% despite lower sales in Q3
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p class="CxSpFirst"spanbspanspanHDB upgraders prefer buying fewer but pricier homes: report/span/span/b/span/p p class="CxSpMiddle"spanspanspanPrivate home prices see a rebound of 0.5% amidst fewer purchases by HDB upgraders in Q3 2023, but recovery is likely attributed to HBD upgraders buying pricier private homes.

Private home prices see a rebound of 0.5% amidst fewer purchases by HDB upgraders in Q3 2023, but recovery is likely attributed to HBD upgraders buying pricier private homes.

In the first nine months of 2023, the number of non-landed homes and condos purchased by HDB addressees decreased by 50.1%, from 7,766 units last 2013 to 3,876 units in the same time this year. Christine Sun, Senior Vice President of Research & Analytics at OrangeTee, said that currently, there were more signs of price resistance as total sales gained in Q3 2023 ranged from 5,501 units in Q2 to 4,995 units. With interest rates and monthly payments staying higher, homeowners may face a pushback from higher prices and lean on private homes with the best value.

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