SINGAPORE – Prices of Housing Board resale flats grew at a slower pace of 2.1 per cent in the fourth quarter of 2022, a sign that prices may be moderating following a round of property curbs in September aimed at cooling the public housing market.
In 2022, HDB resale prices rose an estimated 10.3 per cent, down from a record 12.7 per cent in 2021, but still above the 5 per cent rise recorded in 2020, flash estimates from HDB on Tuesday showed.
The 2.1 per cent price growth from October to December marked the second consecutive quarterly price slowdown, following the 2.6 per cent rise seen in the third quarter of 2022.
OrangeTee & Tie senior vice-president of research and analytics Christine Sun said fewer large flats, which typically command higher prices and prop up the resale prices, were sold in the last quarter.