SINGAPORE - Prices of Housing Board resale flats climbed slightly for the 30th straight month in December, with analysts expecting prices to moderate further in 2023 on the back of cooling measures.
HDB resale flat prices grew at a slower pace of 0.2 per cent in December compared with November’s 0.6 per cent, according to flash data from real estate portals 99.co and SRX on Thursday.
The latest property curbs seem to be effective in putting the brakes on the red-hot housing market, said OrangeTee & Tie senior vice-president of research and analytics Christine Sun, noting that the monthly price growth in the last quarter of 2022 was below 1 per cent.
“The growth rate was slower as prices have already hit record highs in many locations, and many buyers are hesitant to pay much higher prices for a new unit,” she added.
“Moving forward, we expect price growth to remain moderate this year in view of the economic uncertainties, cooling measures and rising interest rates,” she said.