{"id":119976,"date":"2021-01-22T01:03:36","date_gmt":"2021-01-21T18:03:36","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-3-1-in-q4-2020-5-in-2020\/"},"modified":"2021-02-02T17:52:11","modified_gmt":"2021-02-02T10:52:11","slug":"hdb-resale-prices-up-3-1-in-q4-2020-5-in-2020","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-3-1-in-q4-2020-5-in-2020\/","title":{"rendered":"HDB resale prices up 3.1% in Q4 2020, 5% in 2020"},"content":{"rendered":"


\nFor the whole of 2020, prices grew 5%, the steepest increase since Q4 2012 and higher than the 0.1% gain registered in 2019.
\nDespite the difficult economic conditions, the HDB resale market remained in good shape, with prices rising for the third consecutive quarter by 3.1% in the fourth quarter of 2020.
\nIt is also the highest quarterly hike since Q3 2011, when prices jumped 3.8%.
\nFor the whole of 2020, prices grew 5%, the steepest increase since Q4 2012 and higher than the 0.1% gain registered in 2019.
\nIn a release issued on Friday (22 January), HDB revealed that resale transactions fell 1.9% to 7,642 units in Q4 2020 from 7,787 units in Q3 2020. Nonetheless, the figure was higher by 20.6% compared to Q4 2019\u2019s units.
\nFor the whole of 2020, resale transactions climbed 4.4% to 24,748 cases from 23,714 cases previously.
\nDespite the hike in prices, Christine Sun, Senior Vice President of Research and Analytics at OrangeTee & Tie, believes that the HDB market is still not at risk of a housing bubble \u2013 typical signs of which include excessive speculative buying, the decoupling of prices from housing income and many buyers overleveraging in their property acquisition.
\nRecommended article:\u00a0Is Now the Right Time to Buy an HDB Resale Flat?
\n\u201cMany measures have already been put in place to prevent some of these scenarios from occurring,\u201d she said.
\n\u201cFurther, prices of HDB resale flats are still 7.6% below the peak in Q2 2013. Previously, prices soared by 17 continuous quarters from Q2 2009 to Q2 2013 to reach the peak price. The cumulative price growth was 49.4% over that period. Subsequently, prices either stagnated or fell quarterly for about six years,\u201d she explained.
\nShe noted that resale prices have only emerged from the doldrums in 2020 and are still on a slow climb up. In fact, prices have increased by just 5.6% from Q2 2019 to Q4 2020.
\nHDB said the number of approved applications to rent out HDB flats rose 3.4% to 8,472 cases in Q4 2020 from 8,196 cases in Q3 2020. The figure was 29.9% lower versus Q4 2019\u2019s 12,079 cases.
\nAs at end-Q4 2020, 59,092 HDB flats were rented out, up 0.05% from the 59,063 units rented out in Q3 2020.
\nSun expects the overall rents to increase by up to 3% this year, with rental applications hitting 42,000 to 44,000 units.
\nMoreover, she expects prices and demand for HDB resale flats \u201cto rise further as the global economic outlook is likely to be more favourable this year\u201d.
\n\u201cWith mass immunization being rolled out around the world, the worst of the pandemic could be over by the end of this year and key economies may fare better than last year.\u201d
\nSuggested read:\u00a0Million-Dollar HDB Resale Flats in 2020: What\u2019s So Special About Them?
\nShe expects the HDB resale market to continue seeing a flurry of activities as the soft employment market cause more families to downgrade to HDB flats from private homes. Couples still thriving in their jobs, on the other hand, will likely proceed with their upgrading plans, leading to more flats being put on sale.
\n\u201cTherefore, we are optimistic that the HDB resale volume may rise further by 3 to 5% this year, to around 24,000 to 26,000 units. Prices of resale flats may continue to rise by 2 to 5% for the whole of 2021,\u201d said Sun.
\nMeanwhile, HDB announced that around 3,700 Build-To-Order (BTO) flats in Kallang Whampoa, Bukit Batok,\u00a0Toa Payoh\u00a0and\u00a0Tengah will be offered in February.
\n\u201cThis includes the new Community Care Apartments in Bukit Batok,\u201d it said.
\nAnother 3,800 BTO flats in Geylang,\u00a0Bukit Merah,\u00a0Tengah and Woodlands\u00a0will be launched in May.
\n\u201cGiven the economic uncertainty due to COVID-19, HDB is monitoring the housing market closely and will calibrate the supply if required,\u201d it added.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s Listings, Project Reviews and Guides.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…HDB resale prices up 3.1% in Q4 2020, 5% in 2020<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

For the whole of 2020, prices grew 5%, the steepest increase since Q4 2012 and...<\/p>\n","protected":false},"author":1,"featured_media":119977,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-119976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/Colour-Scheme-HDB-e1479092279776.original.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vd6","jetpack-related-posts":[{"id":113849,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-transaction-up-2-7-in-2019\/","url_meta":{"origin":119976,"position":0},"title":"HDB resale transaction up 2.7% in 2019","date":"January 24, 2020","format":false,"excerpt":"\r Resale flat prices also rose 0.5% quarter-on-quarter.\u00a0 There were 23,714 resale flat transactions in 2019, the highest in 7 years. This figure is also 2.7% higher compared to 2018, where there were 23,099 transactions, based on HDB\u2019s Q4 2019 public housing data.\u00a0 On a quarterly basis, resale transactions increased\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41977,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-transactions-down-9-1-in-q4\/","url_meta":{"origin":119976,"position":1},"title":"HDB resale transactions down 9.1% in Q4","date":"January 26, 2017","format":false,"excerpt":"\r View of HDB flats in the western region of Singapore. Resale prices of HDB flats dipped by 0.1 percent in the fourth quarter of 2016, according to more complete data published by the Housing Board. For the whole of 2016, the Resale Price Index slipped by 0.1 percent. On\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103310,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-up-7-9-in-2018-hdb-resale-prices-down-0-9\/","url_meta":{"origin":119976,"position":2},"title":"Private home prices up 7.9% in 2018, HDB resale prices down 0.9%","date":"January 25, 2019","format":false,"excerpt":"\r \u00a0 Private home prices in Singapore, excluding executive condominiums (ECs), increased at a faster pace last year. On the other hand, the decline in HDB resale prices slowed down. According to latest statistics released by the Urban Redevelopment Authority (URA) on Friday (25 Jan), private residential prices eased by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113352,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-0-4-in-q4-2019\/","url_meta":{"origin":119976,"position":3},"title":"HDB resale prices up 0.4% in Q4 2019","date":"January 2, 2020","format":false,"excerpt":"\r As such, the HDB Resale Price Index (RPI), which measures overall price movements of resale HDB flats, is now 131.4.\u00a0 Resale prices of HDB flats have continued to climb in Q4 2019, raising by 0.4% from the 0.1% increase in Q3 2019, according to the latest HDB flash estimates.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2020\/01\/HDB-flash-estimates-Q4-2019.png?fit=600%2C343&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":122742,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-transactions-up-in-q3\/","url_meta":{"origin":119976,"position":4},"title":"HDB resale prices, transactions up in Q3","date":"October 22, 2021","format":false,"excerpt":"\r Quarter-on-quarter, Q3 2021 HDB resale prices\u00a0increased\u00a02.9% while\u00a0transaction volumes increased 19.4%. Resale prices for Housing and Development Board (HDB) flats rose 2.9% in the third quarter of 2021, moderating from the 3% increase registered in the previous quarter, showed HDB data on Friday (22 October). Nonetheless, it is still slightly\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/Pine-Close-HDB-flat-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":78033,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-could-bottom-out-in-2018\/","url_meta":{"origin":119976,"position":5},"title":"HDB resale prices could bottom out in 2018","date":"January 26, 2018","format":false,"excerpt":"\r Analysts expect resale flat prices to remain flat this year. HDB resale flat prices fell by 0.2 percent in Q4 2017 from the previous three-month period. For the whole year, prices dropped by 1.5 percent, revealed more complete data released by the Housing Board on Friday (26 January). Resale\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/119976"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=119976"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/119976\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/119977"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=119976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=119976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=119976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}