By flat type, four-room systems were the most popular, with 2, 909 resell applications registered within the second quarter. It was followed by five-room condominiums with 1, 762 applications and three-room flats with one, 558.
Sales volume remains at a healthy level considering prices possess increased for many consecutive quarters, said Ms Christine Sun, senior vice president of research plus analytics at OrangeTee & Tie.
Authorities have also stepped up the construction of many new flats and shortened the anticipated completion period of brand new flats, thus giving buyers more confidence to purchase Build-To Order (BTO) flats, she added.
Within the rental market, the number of approved applications in order to rent out HDB flats fell by 7. 6 per cent, from 10, 189 situations in the previous quarter in order to 9, 309 instances in the second one fourth.
Compared to the second quarter of 2021, the number of approved applications in the second quarter of 2022 was 15. two per cent lower, based on HDB data.
As in late the second quarter associated with 2022, there were 56, 014 HDB houses rented out, a 0. 6 percent drop over the previous quarter’s 56, 340 units.
Ms Sun stated rental stock might have declined as many property owners have sold their particular flats over the past year, resulting in fewer condominiums on the rental market. Rents may continue to keep climb on the back again of rising pumpiing and declining stock.
In the second half of the entire year, interest rate movement and housing supply might play a more substantial role in identifying the trajectory of flat prices plus housing demand, additional Ms Sun.
“Higher interest rates will translate to raised borrowing costs, that will moderate demand and price growth. Nevertheless , since there has been a lengthy run-up in resell prices, a high price correction might not happen so soon. ”
As HDB continues to launch more BTO flats in the second half of 2022, the increased supply will always draw demand away from the resale market, which may help to regulate the pace associated with price growth and tame market exuberance, she said.
In August, HDB will offer regarding 4, 900 BTO flats in areas such as Ang Mo Kio, Bukit Merah, Choa Chu Kang, Jurong Eastern, Tampines and Woodlands.
About nine, 500 BTO condominiums will be offered in towns and estates this kind of as Bukit Batok, Kallang Whampoa, Queenstown, and Yishun within November.
“This number is subject to review a lot more project details is going to be firmed up nearer to the launch date, ” said HDB, adding that it is on course to launch up to 23, 000 brand new flats this year.
“HDB will continue to monitor the housing need and adjust the particular plans where essential, ” it additional.