What can moderate the prices of HDB resale flats?

In 2Q23, 21 of the 26 HDB towns saw price gains.

The increase in the Build-to-Order (BTO) and resale flat supply may moderate prices in the HDB resale market by not more than 5% in 2023, according to Huttons.

In a report, Huttons said HDB will launch around 13,000 BTO flats in Sep and Dec 2023.

“With more BTO flats completing in the coming months, there may be more supply of resale flats for sale as owners making a lateral move to a BTO flat will need to sell off their current flat,” Huttons said.

In 2Q23, resale prices grew faster, rising 1.5%. In the same period, 21 of the 26 HDB towns saw price gains.

Whilst the 2Q23 price growth is bigger than 1Q23’s record, it is still lower than the quarterly average of 2.5% in 2022.

“This points to moderation in price growth which may have come about due to HDB ramping BTO supply, price resistance from buyers, lowering of loan-to-value ratio to 80% and 15-month wait-out period for private property owners downgrading to an HDB flat,” Huttons said.

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