Singapore’s Housing Development Board reports a record S$5.38 billion deficit in FY2022, said to be driven by new flat development costs and enhanced housing grants.
Singapore’s Housing Development Board releases its 3Q2023 report which indicates a moderated growth in resale markets, with upcoming BTO launches, amidst sustained demand for larger, high-value flats.
The median resale prices for 5-room flats in Bishan, Bukit Merah, Kallang/Whampoa, and Toa Payoh have exceeded S$900,000.
HDB plans to launch 6,800 flats in October and another 6,000 in December 2023. The 3rd Quarter 2023 Resale Price Index shows a 1.2% growth, slower than previous quarters.
Dr Tan Tee Khoon from PropertyGuru suggests the HDB resale market might be peaking, with a notable rise in million-dollar transactions but a decline in overall volume. Demand remains for larger flats, but prices may peak by year-end.
Singapore’s Housing Development Board (HDB) plans a 35% surge in BTO flats for H2 2023 amid a slight cooling in the resale market. HDB also shares updates on the changing landscape of Singapore’s public housing market for Q2 2023.