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HDB resale prices up 2.5% in Q3, with more flats sold
The Straits Times
|October 02, 2024
Housing Board attributes rise to strong broad-based demand, tighter market supply
Prices of Housing Board resale flats rose 2.5 per cent from July to September, a slightly faster clip than the 2.3 per cent growth logged in the second quarter of 2024.
Flash data released by HDB on Oct 1 showed that resale prices have risen continuously on a quarterly basis since the second quarter of 2020.
HDB data also showed that a total of 8,035 resale flats were sold in the third quarter of 2024, up from 7,352 in the second quarter.
The number of flats sold is also 20 per cent higher than the 6,695 that changed hands during the same period in 2023.
HDB said the increase in resale prices and volume was driven by strong broad-based demand and tighter market supply as fewer new flats met the minimum occupation period (MOP) in 2024 compared with 2023.
The latest data comes as a record 328 resale flats crossed the million-dollar mark in the third quarter of 2024, said Ms Christine Sun, chief researcher and strategist at property firm OrangeTee Group.
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