๐ฆ๐๐ก๐๐๐ฃ๐ข๐ฅ๐ ๐ฃ๐ฅ๐ข๐ฃ๐๐ฅ๐ง๐ฌ ๐ ๐๐ฅ๐๐๐ง: ๐๐๐ (๐ฎ๐ฌ๐ฎ๐ฎ, ๐ฎ๐ฌ๐ฎ๐ฏ, ๐ฎ๐ฌ๐ฎ๐ฐ)
- Pauline Chua Era
- Mar 26, 2023
- 2 min read
๐๐๐ resale prices increased by 10.4% in 2022, lower compared to the 12.7% increase in 2021. In 2022, total resale volume was close to 28,000, 10.1% lower than in 2021.
In 2023, experts forecast price growth to further moderate given that price resistance has already started to kick in amidst the price rally, interest rate hike and following the recent cooling measures.
More than 20,000 flats were completed in 2022. HDB plans to complete another 20,000 BTO flats in 2023. Additionally, up to 23,000 BTO flats will be launched this year, an increase of about 35% from 2021. This could divert some demand from the HDB resale market.
Furthermore, HDB aims to launch even more shorter waiting time flats from 2024. Home buyers who are willing to accept the waiting time may look into new flats.
Buyers with more urgent housing needs will continue to explore the resale HDB market. Analysts anticipate that demand for resale flats in non-mature estates will increase in the meantime.
๐๐๐ฑ๐ด๐ฒ๐ ๐ฎ๐ฌ๐ฎ๐ฏ rolls out higher CPF housing grants to first-timer buyers of resale flats (see infographic below), as well as additional BTO ballot for first-timer families with children and couples under 40 years old.
Some home buyers may choose to enter the private residential market. ๐ฆ๐๐๐ก ๐๐ต๐ฒ ๐ค๐ฅ ๐๐ผ๐ฑ๐ฒ bit.ly/Upcoming-New-Launches to find out about the 2023 New Launches.
"๐๐ฐ๐ถ๐ค๐ฉ๐ช๐ฏ๐จ ๐๐ช๐ท๐ฆ๐ด, ๐๐ฐ๐ฏ๐ฏ๐ฆ๐ค๐ต๐ช๐ฏ๐จ ๐๐ฆ๐ฐ๐ฑ๐ญ๐ฆ ๐๐ฉ๐ณ๐ฐ๐ถ๐จ๐ฉ ๐๐ฆ๐ข๐ญ ๐๐ด๐ต๐ข๐ต๐ฆ."
๐๐๐๐๐๐๐ ๐๐๐๐ Associate Senior Marketing Director Huttons Asia Pte Ltd www.paulinechua.com WhatsApp: wa.me/6586927272
www.instagram.com/paulinechuarealestate LinkedIn.com/in/paulinechuarealestate www.youtube.com/@PaulineChuaRealEstate
๐๐ถ๐ฑ ๐ฌ๐ผ๐ ๐๐ป๐ผ๐? A 1,141sqft 5 room HDB at Pinnacle @ Duxton was sold at $1.4m in March 2023. A record 370 million-dollar flats were transacted in 2022, up from 259 such deals in 2021. These make up 1.38% of total transactions for the year. Analysts anticipate that the number of million-dollar flat transactions will reduce to around 200 - 300 in 2023.
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