THE red-hot housing market may finally be showing signs of cooling, say analysts, with resale prices of public housing flats flattening out and sales volume falling in the fourth quarter of 2022.
Data from the Housing and Development Board (HDB) showed prices of resale flats rising by 2.3 per cent from the previous three months – making for the slowest growth in the past year.
This is also the smallest quarterly increment since Q3 2020, when prices hiked by 1.5 per cent, highlighted Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie.
For the whole of 2022, resale prices rose by 10.4 per cent, slower than 2021’s record growth of 12.7 per cent. But Sun noted that this is still above the 5 per cent growth posted in 2020.
The 2.3 per cent Q4 rise announced on Friday (Jan 27) was slightly higher than the earlier estimated 2.1 per cent released on Jan 3.