Last month, a resale flat was sold for a record-breaking price of $1.5 million, despite having only 48 years left on its 99-year lease.
SINGAPORE: Public housing resale prices have continued to climb, with the Housing Development Board reporting a 1.4 per cent hike in the second quarter of 2022. This represents the 13th consecutive quarter that prices have kept rising and marks the third year of continuous resale price increases since the circuit breaker period in mid-2020.
Although the price increase recorded in the second quarter of 2023 is 0.4 per cent higher than the 1 per cent increase that was reported in the previous quarter, HDB and Minister for National Development Desmond Lee have said that they see signs of moderation in the resale property market as the latest hike is lower than the average quarterly growth of 2.5 per cent last year.
Since December 2021, HDB has introduced measures to dampen the property market, including the Additional Buyer Stamp Duty rates, implementing a 15-month wait-out period for private property owners who want to purchase an HDB resale flat and reducing the loan-to-value limit for HDB housing loans from 90 per cent to 80 per cent.
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