by OrangeTee & Tie Pte Ltd.

Prices of private homes, HDB reslae flats rise in Q1, analysts expect more gains in coming months

URA Quarterly Data

URA Quarterly Data

Singapore, 23 Apr 2021

SINGAPORE — Prices of private apartments and public resale flats rose across the board in the first quarter of 2021. This was from data released by the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB) on Friday (April 23).

Property analysts expect this upward trend to continue for the private property and HDB resale markets in the coming months, giving reasons such as construction delays brought about by the pandemic, low interest rates, and rising demand from foreign investors.

Private property prices in Singapore rose by 3.3 per cent in the first quarter — surpassing the flash estimate of 2.9 per cent released by URA earlier this month. The jump seen in the first quarter is the steepest quarterly increase since the second quarter of 2018, when private residential prices climbed 3.4 per cent.

For resale prices in the public housing market, they notched up 3 per cent increases over those in the fourth quarter of the last year — the fourth consecutive quarter of increases.

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