{"id":121031,"date":"2021-07-23T03:39:55","date_gmt":"2021-07-22T20:39:55","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-hdb-resale-prices-increase-for-fifth-consecutive-quarter\/"},"modified":"2021-07-23T12:06:16","modified_gmt":"2021-07-23T05:06:16","slug":"private-home-hdb-resale-prices-increase-for-fifth-consecutive-quarter","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-hdb-resale-prices-increase-for-fifth-consecutive-quarter\/","title":{"rendered":"Private home, HDB resale prices increase for fifth consecutive quarter"},"content":{"rendered":"


\nPrivate home and resale flat prices have continued to climb for the fifth straight quarter, as demand for properties continued to be strong in Q2 2021 despite the Phase 2 (Heightened Alert) measures.\u00a0
\nSingapore\u2019s housing market has continued to remain resilient amid the COVID-19 pandemic, with private home prices and HDB resale prices registering their fifth consecutive quarterly increase.
\nUrban Redevelopment Authority (URA) data showed that private home prices rose 0.8% in Q2 2021. However, the pace of increase was more moderate compared to the 3.3% hike posted in Q1 2021.
\nHuttons Asia\u00a0noted that private home prices \u201chave appreciated by 7.1% since the Circuit Breaker in Q2 2020, 19.7% from the bottom in Q2 2017 and are now 5.8% above the previous peak in Q3 2013\u201d.
\n\u201cAfter a strong run-up prices in Q1 2021, some landed homeowners raised their asking prices, putting themselves out of reach for some buyers and resulting in a pullback in prices in Q2 2021,\u201d Huttons added.
\nLanded property prices dipped 0.3% in Q2 2021, after increasing 6.7% in the previous quarter. Non-landed property prices, on the other hand, climbed 1.1%, after growing 2.5% in Q1 2021.
\nA total of 8,449 private homes, excluding executive condominiums (ECs), were sold in Q2 2021, up 4.3% from the 8,100 units shifted in the preceding quarter.
\nSpecifically, new home sales declined 15.1% to 2,966 units in Q2 2021, while resale transactions grew 18% to 5,333 units.
\nHuttons Asia CEO Mark Yip said resale transactions made up 63.1% of the total transactions volume due to fewer new launches in Q2 2021.
\n\u201cDemand for properties was strong in Q2 2021 despite Phase 2 (Heightened Alert),\u201d he said, adding that desire \u201cfor a safe haven during the pandemic and investing in properties to beat inflation\u201d are some of the reasons behind the demand.
\nMeanwhile, rental volume, excluding ECs, marginally dipped 0.4% to 23,536 private homes during the period under review from 23,622 units in Q1 2021.
\n\u201cThe recent tightening of border controls and viewing restrictions during Singapore\u2019s Heightened Alert period was a setback to the rental market recovery,\u201d said Christine Sun, Vice President of Research and Analytics at OrangeTee and Tie.
\nWith the available stock remaining limited and the supply of new homes is hampered by construction delays, the supply crunch led to higher rents.
\nURA data showed that rents rose 2.9% in Q2 2021, a steeper hike compared to the 2.2% increase seen in the previous quarter.
\nOver at the HDB resale market, prices increased 3% quarter-on-quarter and 11% year-on-year. For the first half of 2021, resale prices grew 6%.
\n\u201cHDB resale prices have appreciated by 11% from the circuit breaker in Q2 2020, 11.9% from the bottom in Q2 2019 and are now 2% below the previous peak in Q2 2013,\u201d said Huttons.
\nGiven the pace of price increase, Sun expects resale prices to reach a new high by H2 2021.
\n\u201cThe strong price gains reflect robust demand for flats as buyers shift their focus away from new flats which are experiencing delays in completion. It may also indicate that more buyers are asking for higher prices which may result in more instances of cash over valuation,\u201d said Yip.
\nIn Q2 2021, HDB resale volume slipped 6.8% to 7,063 units in Q2 2021 from 7,581 units in Q1 2021.
\nAnalysts attributed the drop in sales to stricter measures enforced during the Heightened Alert period in May to June. The refusal of some sellers to budge on their asking prices also slowed transactions, said Yip.
\n\u201cDespite the slight pullback in sales, buyer demand is still strong since the sales volume in Q2 is higher than the pre-pandemic level,\u201d said Sun.
\nThe average quarter sales stood at 5,929 units in 2019 and at 6,187 units in 2020.
\nSun believes the strong demand and home supply shortage could keep resale prices elevated over the coming months.
\nSuggested read:\u00a09 Resale Condominiums Under 1.5 Million to Buy for HDB Upgraders
\nWith the \u201csupply-demand imbalance\u201d persisting this year, flat prices may be pushed higher in the coming months, she said.
\n\u201cConstruction delays are expected for many BTO projects and many young couples with urgent housing needs may continue to turn to the resale market, although the supply lag may begin to ease next year when construction activities continue to pick up,\u201d added Sun.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email:\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Private home, HDB resale prices increase for fifth consecutive quarter<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Private home and resale flat prices have continued to climb for the fifth straight quarter,...<\/p>\n","protected":false},"author":1,"featured_media":121032,"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-121031","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\/07\/Singapore-condo.original.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vu7","jetpack-related-posts":[{"id":120572,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-continue-to-increase-in-q2-2021\/","url_meta":{"origin":121031,"position":0},"title":"Private home prices, HDB resale prices continue to increase in Q2 2021","date":"July 1, 2021","format":false,"excerpt":"\r Private home prices, HDB resale prices continue to increase in Q2 2021Private home prices and HDB resale prices continue to increase in the second quarter of 2021, showed the URA and HDB flash estimates.\u00a0 Singapore saw private home prices and HDB resale prices continue to increase in the second\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/HDB-MRT-station.jpg?fit=819%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":62058,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-flat-prices-down-0-1-in-q2\/","url_meta":{"origin":121031,"position":1},"title":"HDB resale flat prices down 0.1% in Q2","date":"July 28, 2017","format":false,"excerpt":"\r View of HDB flats in Toa Payoh. Prices of resale flats fell 0.1 percent in the second quarter of 2017 from the previous three-month period, according to the latest HDB Resale Price Index. \u00a0 Resale flat transactions rose 32.5 percent to 6,001 cases in Q2, from 4,530 cases in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108612,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-continue-to-fall-in-q2\/","url_meta":{"origin":121031,"position":2},"title":"HDB Resale Prices Continue To Fall In Q2","date":"July 2, 2019","format":false,"excerpt":"\r Resale prices of Housing and Development Board (HDB) flats continued its downward trend, falling 0.2 percent in the second quarter of 2019, revealed flash estimates from the HDB. Providing information on the general price movements within the resale public housing, the resale price index (RPI) fell to 130.8 in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20866,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-flat-prices-stay-flat-in-q2\/","url_meta":{"origin":121031,"position":3},"title":"HDB resale flat prices stay flat in Q2","date":"July 22, 2016","format":false,"excerpt":"\r HDB resale transactions were up last quarter, signalling a return of confidence in the market. 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OrangeTee noted resale prices \u201chave\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\/121031"}],"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=121031"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/121031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/121032"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=121031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=121031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=121031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}