| Quarter | Resale Price Index | % Change |
|---|---|---|
| Q3 2023 | 178.5 | 1.3 |
| Q2 2023 | 176.2 | 1.5 |
| Q1 2023 | 173.6 | 1.0 |
| Q4 2022 | 171.9 | 2.3 |
| Q3 2022 | 168.1 | 2.6 |
The resale volume for the third quarter is the lowest in the last three years since the third quarter of 2020, HDB said.
Resale transactions for the third quarter rose by 2.8 per cent, from 6,514 cases in the second quarter to 6,695.
Compared to the third quarter of 2022, resale transactions in the third quarter of 2023 were 11.3 per cent lower, said HDB.
Repeated delays to the Build-to-Order (BTO) launch and news on potential changes to housing policies created uncertainties for sellers and buyers of HDB resale flats in the third quarter of 2023, Mr Lee said.
He added that the third quarter of the year is usually one of the busiest periods for the HDB resale market, and that the pullback from both sellers and buyers led to a smaller-than-expected transaction volume.
The top five most popular HDB towns among buyers in the third quarter of 2023 are Sengkang, Punggol, Woodlands, Yishun and Jurong West, noted Mr Lee.
RENTALS
In the rental market, the number of approved applications to rent out HDB flats rose by 0.1 per cent from 9,842 cases in the previous quarter to 9,852 cases in the third quarter.
Compared to the third quarter of 2022, the number of approved applications in the third quarter of 2023 was 20.3 per cent higher, according to HDB data.
As at the end of the third quarter of 2023, there were 57,797 HDB flats rented out, a 1.7 per cent increase over the previous quarter’s 56,858 units.
“The leasing volume may remain firm in the long term as public housing offers cheaper rents than private homes, and the market will continue to be supported by foreign students, locals, and foreign workers seeking affordable rents,” said Christine Sun, senior vice president of research and analytics at OrangeTee.
6,000 FLATS WILL BE LAUNCHED IN DECEMBER
In the next BTO sales exercise in December, HDB will offer about 6,000 flats in towns and estates such as Bukit Panjang, Jurong West, Woodlands, Bedok, Bishan, Bukit Merah and Queenstown.
More details on the launch numbers and project details will be provided closer to the launch date.
“HDB has launched about 16,700 flats till date and remains on track to launch up to 23,000 flats in 2023,” it said.
HDB added it will consolidate the available Sale of Balance Flats (SBF) supply and conduct the next SBF exercise in 2024. Details on the next SBF exercise will be released when ready.