Prices for HDB resale flats rise 2.8% q-o-q in 1Q2021: flash estimates

By
/ EdgeProp Singapore
|
April 1, 2021 2:48 PM SGT
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (EDGEPROP) - Prices for HDB resale flats rose by 2.8% q-o-q in Q12021, according to flash estimates released by the Housing & Development Board (HDB).
HDB resale prices are now inching closer to the peak price in 2Q2013, observes Christine Sun, senior vice president of research and analytics at OrangeTee & Tie. Prices last quarter were just 5% lower than the highest price recorded in 2Q2013, she adds. “At the current pace of price growth, a new peak may be formed by the second half of this year."
In 1Q2021, average prices rose q-o-q in 22 of the 26 towns, Sun highlights, based on HDB data as at March 31. HDB units in the neighbourhoods of Toa Payoh (17%, 244 units), Bukit Timah (11.2%, 28 units) and Bedok (8%, 402 units) posted the highest quarterly increase in the quarter.
ADVERTISEMENT
She also predicts that 2021 will see a new record number of million-dollar flat sales, surpassing last year’s cumulative total of 82 units. Last quarter, 53 resale flats changed hands for at least $1 million, marking the highest quarterly sales of million-dollar flats on record since 1990.
“Rising flat prices generally bode well for sellers as it is now more favourable for some flats owners to ascend the property ladder. Seller expectations may continue to rise in the coming months and some may ask for higher prices,” says Sun.
“Demand for resale flats is expected to remain strong and some locations are seeing a supply shortage,” she notes, adding that “in light of the strong demand, prices of resale flats are expected to trend higher this year”.
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter
Search Articles
Follow Us On
Our Sites
Edgeprop.sg (previously known as The Edge Property Singapore) – is the best property portal for home-seekers, buyers, investors and real estate agents alike in Singapore. On EdgeProp, you will be able to find all the latest news and views, informational guides, historical transactions and rental searches, and research data and analysis.
Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDB flats, landed houses or commercial properties, we bring you Singapore’s the most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions.
Make better decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property and find properties below market value in Singapore. Meanwhile, discover all things en bloc, including Singapore en bloc news, trends and our En Bloc Calculator, which helps to determine the probability of a Singapore project being put up for collective sale.
Web Version 4.5.155
Aside from that, EdgeProp also offers a market trend tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heat map that lets you find out where all Singapore’s most popular property sales locations are, a HDB lease tool that lets you calculate your HDB tenure, an affordability calculator, and a property watch list to track your preferred Singapore property by project or location, as well as new launches.
On the lookout for undervalued property or buying to rent? EdgeProp’s powerful search filters let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools and childcare centres, or a good-value condo with a sea view – so that you find exactly what you are looking for.