Singapore, 23 Apr 2021 SINGAPORE - The Housing Board resale market remained steadily robust in the first quarter of this year amid Covid-19 vaccine optimism, with prices of resale flats rising for the fourth consecutive quarter even as fewer flats changed hands.
The resale price index for the first three months of the year was logged at 142.2, an increase of 3 per cent over that in the fourth quarter of 2020, according to figures released by HDB on Friday (April 23). Prices rose 8.1 per cent year on year.
Last quarter's HDB resale prices were just 4.8 per cent lower than their peak in the second quarter of 2013, said Ms Christine Sun, OrangeTee & Tie's senior vice-president of research and analytics. At the current pace of price growth and increased demand, prices may reach the 2013 peak in the second half of this year, she added. She noted that the roll-out of Covid-19 vaccines around the world and anticipated global economic recovery stoked a frenzy of property-buying activity worldwide, which in turn lifted market sentiment for the HDB resale market.