Resale flat prices up 10.3% in 2022, slower than 12.7% increase in 2021

SINGAPORE — Resale Housing Board flat prices rose 10.3 per cent in 2022, slower than the 12.7 per cent increase in 2021.

The Housing & Development Board’s (HDB) flash estimate of the Resale Price Index (RPI) for the fourth quarter of 2022 is 171.7, an increase of 2.1 per cent over the third quarter of 2022, marking 11th consecutive quarter that the RPI has risen.

The RPI provides information on the general price movements in the resale public housing market

The fourth quarter RPI is a slower increase than the 2.6 per cent increase in the third quarter of 2022, and is the slowest increase in the past year, HDB said in a press release on Tuesday (Jan 3).

HDB imposed cooling measures on Sept 30, including a 15-month wait-out period for private property downgraders and tighter loan limits.

The resale volume in the fourth quarter, up to Dec 29, was 6,474, which is 15.8 per cent lower than the same period last year, when 7,692 units changed hands.

For the full year up to Dec 29, the total resale volume was 27,773, which is 9.7 per cent lower than the 30,769 transactions in the corresponding period last year.

UPCOMING FLAT SUPPLY

HDB said it has launched a total of 23,184 Build-To-Order (BTO) flats for sale in 2022 and this year, it plans to offer up to 23,000 BTO flats.

In February, HDB will offer about 4,400 BTO flats in towns and estates such as Jurong West, Kallang Whampoa, Queenstown, and Tengah. In May, HDB will offer between 3,800 to 4,800 flats in Bedok, Kallang Whampoa, Queenstown, Serangoon and Tengah.

HDB said these numbers are "subject to review as more project details will be firmed up closer to the launch dates". CNA

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