18-04-2024, 05:28 PM
All see & sing with Singapore.
As price of Housing & Development Board (HDB) resale flats has risen for 16 consecutive quarters, and some in the industry expect it to increase by around five percent this year, 2024. Steady ehh.
NO ADVERTISING PLEASE, After taking various factors into consideration, it is expected resale prices may rise moderately by up to 5% in 2024. This increase is comparable to, or slightly lower than, the 4.9% growth observed in 2023,” reads real estate says OrangeTee’s HDB Resale Trends Q1 2024.
On April 1, flash estimates released, showed HDB price of resale flats increased by 1.7% in 1st quarter of 2024, uptick is higher than 1.1% price increase in last year’s 4th quarter. However, HDB noted resale market is stabilizing overall, given resale prices only grew by 4.9% last year. They rose by 12.7% in 2021 and 10.4% in 2022.
See also Private property prices to rise between 5-7% says research firm. Nevertheless, demand for HDB resale flats is still strong. OrangeTee noted HDB resale prices rose faster in the first quarter of the year 2024. Clapping
Moreover, company called an anomaly that HDB resale volume for first quarter exceeded the previous quarter, also said number of sales of at least one million dollars reached a new high of 185 transactions during this period, and in January, the most expensive flat was priced at S$1.57 million.
OrangeTee attributed demand for resale flats to more first-time buyers opting for them rather than waiting for BTO sales launches and added that BTO sales launches are now held three times a year instead of four, as they had previously.
Also, Sales of Balance Flat (SBF) exercise will be held once a year. Additionally, more private property owners have finished 15-mth wait-out period implemented in September 2022 for people (who?) wish to downgrade to a resale flat.
See?. Prices for resale flats rose, most in the following towns: Serangoon 7.9%, Bishan 6.4%, Kallang/Whampoa (5.7%) and Toa Payoh 5.4%.
The average price of resale flats grew in 19 out of 26 towns in year’s 1st quarter. In comparison, prices only saw an uptick in 14 towns in 1st quarter of 2023. Tongue
However, OrangeTee noted “competition in the housing market may increase in the latter half of this year 2024 with launch of the new Plus flats by the govt. Although these flats come with stricter buying / selling restrictions & a longer minimum occupation period of ten years, their good location may attract first-time buyers.” /TISG
Read also: HDB resale flats up 1.7% for 16th consecutive quarterly increase. Queenstown 4-rm flat sells for record-breaking news S$1.24 million
HOME NEWS
Homeowners should brace for higher mortgage rates until end of 2025: Analysts
As price of Housing & Development Board (HDB) resale flats has risen for 16 consecutive quarters, and some in the industry expect it to increase by around five percent this year, 2024. Steady ehh.
NO ADVERTISING PLEASE, After taking various factors into consideration, it is expected resale prices may rise moderately by up to 5% in 2024. This increase is comparable to, or slightly lower than, the 4.9% growth observed in 2023,” reads real estate says OrangeTee’s HDB Resale Trends Q1 2024.
On April 1, flash estimates released, showed HDB price of resale flats increased by 1.7% in 1st quarter of 2024, uptick is higher than 1.1% price increase in last year’s 4th quarter. However, HDB noted resale market is stabilizing overall, given resale prices only grew by 4.9% last year. They rose by 12.7% in 2021 and 10.4% in 2022.
See also Private property prices to rise between 5-7% says research firm. Nevertheless, demand for HDB resale flats is still strong. OrangeTee noted HDB resale prices rose faster in the first quarter of the year 2024. Clapping
Moreover, company called an anomaly that HDB resale volume for first quarter exceeded the previous quarter, also said number of sales of at least one million dollars reached a new high of 185 transactions during this period, and in January, the most expensive flat was priced at S$1.57 million.
OrangeTee attributed demand for resale flats to more first-time buyers opting for them rather than waiting for BTO sales launches and added that BTO sales launches are now held three times a year instead of four, as they had previously.
Also, Sales of Balance Flat (SBF) exercise will be held once a year. Additionally, more private property owners have finished 15-mth wait-out period implemented in September 2022 for people (who?) wish to downgrade to a resale flat.
See?. Prices for resale flats rose, most in the following towns: Serangoon 7.9%, Bishan 6.4%, Kallang/Whampoa (5.7%) and Toa Payoh 5.4%.
The average price of resale flats grew in 19 out of 26 towns in year’s 1st quarter. In comparison, prices only saw an uptick in 14 towns in 1st quarter of 2023. Tongue
However, OrangeTee noted “competition in the housing market may increase in the latter half of this year 2024 with launch of the new Plus flats by the govt. Although these flats come with stricter buying / selling restrictions & a longer minimum occupation period of ten years, their good location may attract first-time buyers.” /TISG
Read also: HDB resale flats up 1.7% for 16th consecutive quarterly increase. Queenstown 4-rm flat sells for record-breaking news S$1.24 million
HOME NEWS
Homeowners should brace for higher mortgage rates until end of 2025: Analysts