HDB resale price growth slows down in 2022

For the entire year, prices increased by 9.4%.

Prices continue to grow in the HDB resale market, albeit, at a slower pace in 2022.

Data from 99.co and SRX showed that prices grew by 9.4% for 2022, lower compared to the 13.6% increase in 2021.

In 2023, experts forecast price growth to further moderate given that price resistance has already "started kicking in, following an extended price rally since July 2020."

Overall volume for 2022 likewise decreased from 2021, dropping 8.1%  to 26,806 units.

" For 2023, resale volumes are likely to be on par with 2022 or may trend slightly lower as HDB plans to launch another 23,000 BTO flats this year which would divert some demand away," 99.co and SRX commented.