Singapore, 28 Oct 2022 RESALE prices of public housing flats climbed for the 10th consecutive quarter in the third quarter of 2022, up 2.6 per cent from the previous quarter, but slightly slower than Q2’s 2.8 per cent rise.
The slower growth seen in Q3 shows the public housing market is starting to feel the effects of rising interest rates and inflationary pressures, said Christine Sun, OrangeTee & Tie’s senior vice-president of research and analytics.
Data from the Housing and Development Board (HDB) on Friday (Oct 28) showed transaction volumes of resale flats growing 10.7 per cent in Q3 to 7,546 units, from 6,819 units in the previous quarter. Year on year, this was a 10.5 per cent dip.
However, OrangeTee & Tie’s Sun holds that this moderation might be temporary as the market “takes a breather”.