- Joined
- Oct 30, 2014
- Messages
- 36,768
- Points
- 113
SINGAPORE - Resale prices for Housing Board flats increased in the third quarter of this year, with the resale price index reaching 133.7, said the Housing and Development Board (HDB) on Thursday (Oct 1).
This is an increase of 1.4 per cent from the previous quarter.
Last quarter's performance also marked a significant improvement from the previous quarters. The resale price index had risen by a marginal 0.3 per cent in Q2 after staying flat in the first quarter of the year.
OrangeTee and Tie's head of research and consultancy Christine Sun said that the HDB resale market has "outperformed" expectations in the last three months.
She noted that stimulus measures and past property curbs may have played an instrumental role in keeping home prices up amid the current economic headwinds.
For instance, cooling measures such as the mortgage servicing ratio were applied to tighten the disbursement of housing loans.
This may have prevented buyers from overleveraging and selling their flats at excessively low prices during the current market slowdown, Ms Sun said.
"Fears of a property meltdown amid Singapore's worst economic crisis were abated as the public housing market performance emerged stronger than expected last quarter," she added.
The robust increase in resale prices could also possibly be due to the long completion period for some recent build to order (BTO) launches.
https://www.straitstimes.com/singapore/housing/hdb-resale-prices-rise-14-flash-data
