Source: Jeda Hutchison (Pexels)

HDB resale price increase slows to 2.3% in Q4 

This is also the slowest increase in the past year.

The resale price of the Housing and Development Board (HDB) flats increased by 2.3% to 171.9 in the fourth quarter of the year. 

This is slower compared to the 2.6% price increase in the previous quarter. The HDB also noted that this is the slowest recorded price movement in the past year. 

For the entire year, resale prices went up by 10.4%, also slower than the 12.7% increase in 2021. 

Resale transactions fell by 12.6%, to 6,597 cases in the fourth Quarter of 2022 from 7,546 cases in the third quarter of the same year. 

Read more: HDB resale price growth slows down in 2022

Resale transactions in the fourth quarter of 2022 were 16.9% lower compared to the previous year.  For the whole year of 2022, resale transactions decreased by 10.1%, from 31,017 cases to 27,896 cases.

Moreover, the HDB reported that in February 203, about 4,400 BTO flats in town/estates such as Jurong West, Kallang Whampoa, Queenstown, and Tengah will be offered.

Around 3,800 to 4,800, more will be offered in May 2023.


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