3Q 2023 HDB Resale Market
HDB resale prices experienced a modest uptick of 1.3% q-o-q in 3Q 2023. Nevertheless, this growth rate remains below the average quarterly increase of 2.5% observed in 2022. Thus, there is slight moderation in HDB resale prices since the implementation of cooling measures in September 2022.
For the first nine months of 2023, a total of 336 HDB flats were transacted at the million-dollar mark. 2023 is on track to see the highest number of million dollar flats transactions.
Looking ahead, we expect to see a divergence in demand for HDB resale flats. Resale demand in non-mature estates could moderate as the upcoming Oct and Dec BTO sales launches are likely to divert the demand in these areas.
Demand for mature estates is expected to hold strong and prices to trend upwards in view of the lack of units available for sale.
