SG, 04 Feb 2021 The Housing Board resale market started the year on a strong footing as prices rose for the seventh consecutive month in January, according to flash data from real estate portal SRX released on Thursday (Feb 4). Resale prices rose by 1.7 per cent last month, compared with December 2020. The overall price increase was 7.7 per cent compared to 2020, but still 7 per cent lower than the peak in April 2013. Last month, a total of 13 Housing Board resale flats also changed hands for at least $1 million.
The strong demand for public housing has continued to prop up resale prices and is expected to be sustained in the coming months with prices rising further by 2 to 5 per cent this year, said Ms Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie. "Demand for HDB resale flats seems to be outpacing supply now, as evident by the high subscription rates of recent Build-To-Order (BTO) launches and increasing resale transactions," she said.