The recent flash estimates from HDB show a slower pace of price growth in the resale market with a 1% increase in resale home prices in the final quarter of 2023. Overall, the year ended with a 4.8% gain in HDB resale prices.
If you were to take a look at price changes over the past two years: 2021 ended with a 12.7% increase, and 2022 ended with a 10.4% increase. It is clear that the growth over the past three years has tapered down and decreased in terms of percentage. Let's take a look below to see some reasons that stifled the growth of HDB resale prices.
1. A 15-month wait-out period for private homeowners looking to buy public homes
2. Tightened loans granted by HDB
3. Peaking of home prices in the resale market
4. About 63,000 BTOs launched between 2021 to 2023 attracting buyers with great locations and shorter waiting time
The question here is, what do HDB homeowners do? Wait for prices to go up before selling or selling it now?
Watch the video below to understand more!
Edmund Ee
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