{"id":124453,"date":"2022-02-04T02:38:27","date_gmt":"2022-02-03T19:38:27","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-rose-12-7-sales-for-new-private-homes-resale-private-properties-up-in-2021-and-more\/"},"modified":"2022-02-04T11:07:22","modified_gmt":"2022-02-04T04:07:22","slug":"hdb-resale-prices-rose-12-7-sales-for-new-private-homes-resale-private-properties-up-in-2021-and-more","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-rose-12-7-sales-for-new-private-homes-resale-private-properties-up-in-2021-and-more\/","title":{"rendered":"HDB resale prices rose 12.7%, sales for new private homes, resale private properties up in 2021, and more"},"content":{"rendered":"


\n25th January to 31st January 2022
\nDespite the fast-growing prices, sales of new private homes and resale properties increased in 2021. The HDB resale market also saw transaction volumes increase 25.3% last year, while prices rose 12.7%, marking its highest annual growth since 2010.
\n1) Sales for new private homes, resale properties up in 2021
\nSingapore saw sales for new private homes and resale properties increase last year even as prices hit new records, reported Channel News Asia, citing data from the Urban Redevelopment Authority.
\nDevelopers sold 13,027 private homes in 2021, up from the 9,982 units shifted in 2020. The number of resale homes sold also jumped to 19,962 units in 2021, from 10,729 units in the previous year.
\nOrangeTee & Tie\u2019s Senior Vice President of Research and Analytics Christine Sun said last year\u2019s resale transactions were the highest since 2007 when 20,980 units were sold. She noted that the fast-growing prices did not hamper demand, with sales brisk across many project launches as well as resale developments last year.
\nOverall prices of private homes rose 10.6% for the whole of 2021, up from the 2.2% hike registered in the previous year. Sun said it was the highest annual growth since the 17.6% increase posted in 2010.
\nIn 2021,\u00a0more than 20,000 HDB flats\u00a0fulfilled their 5-year\u00a0Minimum Occupation Period (MOP). Demand for new condos and ECs, especially entry-level projects located in the Outside Central Region\u00a0(OCR), was likely fuelled by\u00a0HDB upgraders. In 2022, more than\u00a031,000 HDB flats\u00a0will fulfil their MOP\u00a0and we can expect fewer new launch condos and EC projects; demand is likely to persist.
\n2) HDB resale prices rose 12.7% in 2021<\/p>\n

Prices of resale Housing and Development Board (HDB) flats rose 12.7% in 2021, the highest annual growth since 2010, reported Channel News Asia citing HDB data.
\nOn a quarterly basis, HDB resale prices also increased 3.4% in Q4 2021 from the previous quarter.
\nOrangeTee & Tie\u2019s Senior Vice President of Research and Analytics Christine Sun attributed the record growth to \u201cprice bidding wars and sky-high cash offers for many popular flats\u201d.
\nRelated article:\u00a0Million-Dollar HDB Resale Flats in 2021: What\u2019s So Special About Them?
\nMeanwhile, resale transactions dropped 5.8% to 7,940 cases in Q4 2021 from the previous quarter. When compared to Q4 2020, however, resale transactions in Q4 2021 rose 3.9%.
\nFor the whole of 2021, resale transactions jumped 25.3% to 31,017 cases, up from the 24,748 cases in 2020.
\nWith the announcement of the December 2021 cooling measures\u00a0and how December tends to see a slowdown in transactions, it\u2019s little surprise that Q4 2021 saw a dip in the number of resale HDB flat transactions.\u00a0
\nOverall, prices increased at a blistering pace in 2021 due to decreasing supply as ongoing BTO construction delays pushed more into the HDB resale market.
\nFor those who are\u00a0looking to buy a resale HDB flat in the coming months, here\u2019s a handy\u00a0checklist to use when going for viewings:<\/p>\n

3) Jalan Tembusu, Lentor Hills sites awarded to highest bidders
\nThe tenders for the residential sites at Jalan Tembusu and Lentor Hills Road (Parcel A) have been awarded to their respective highest bidders, revealed Urban Redevelopment Authority (URA).
\nCDL Triton, a unit of City Developments Limited (CDL), submitted the highest bid for the Jalan Tembusu site at $768 million or $1,302 per sq ft per plot ratio (psf ppr). Beating seven other bidders, CDL plans to build a residential project with 640 units spread across four blocks of 20- to 21-storey towers at the site.
\nMeanwhile, the site at Lentor Hills Road was awarded to a consortium comprising GuocoLand (Singapore), Intrepid Investments and TID Residential, which submitted the highest bid of $586.6 million or $1,060 psf ppr. In an SGX filing, GuocoLand shared plans to build a residential project of about 600 units at the site.
\nThe Jalan Tembusu and Lentor Hills sites will benefit from\u00a0the\u00a0construction of the\u00a0Thomson-East Coast line\u00a0(TEL). Both sites are within walking distance of TEL stations. Lentor MRT station is already in operation and Tanjong Katong MRT station is set to be completed in 2024.\u00a0
\n4) Tightened monetary policy to have limited impact on property market
\nEconomists expect the Monetary Authority of Singapore\u2019s (MAS) decision to \u201cslightly\u201d raise the rate of appreciation of its policy band to only have a small impact on the real estate market, reported The Business Times (BT).
\nThis comes as foreign investors mostly think in terms of the US dollar, said Vishnu Varathan, Mizuho Bank\u2019s Head of Economics and Strategy.
\nHe noted that the tightened monetary policy may even provide foreign buyers more confidence to invest within the city-state.
\n\u201cBuyers have got a lot more faith in the Sing dollar being a lot more stable because of its trade weighted policy,\u201d said Varathan as quoted by BT.
\n5) Landed home sales hit an all-time high in 2021
\nSingapore\u2019s landed residential market registered an all-time high sales transaction value in 2021, at about $8.9 billion, revealed Knight Frank.
\nThis comes even as total transaction value for landed homes declined 6.2% to $4.3 billion in 2H 2021 from $4.6 billion in 1H 2021.
\nKnight Frank noted that Good Class Bungalows (GCB) significantly moved sales last year, with the market posting an estimated sales value of $751.4 million in 2H 2021.
\nMeanwhile, the sales value of luxury non-landed homes eased 9% to $1.9 billion in 2H 2021 from 1H 2021, with 221 units shifted. Buyers continued to favour District 10, where 103 units were transacted.
\nLast year was a booming year for\u00a0GCB transactions.\u00a0Usually, those who buy GCBs do so with the intention to live in them; those interested in purchasing a GCB typically make an offer if they find a suitable property.\u00a0This\u00a0keen intent, the limited GCB supply, growing prices and\u00a0perception of the property type\u00a0create a\u00a0potent combination to keep demand healthy.
\nBrowse all GCBs in District 10 on PropertyGuru.
\n6) Developers show discipline in latest GLS tender
\nLentor Hills site. Source: URA
\nDespite dwindling inventory of unsold private homes, developers showed discipline during the latest Government Land Sales (GLS) tender for two residential sites at Jalan Tembusu and Lentor Hills Road.
\n\u201cDevelopers need to replenish landbank and yet they did not chase prices, which means a lot of developers were disciplined at the tender,\u201d said Alan Cheong, Executive Director at Savills Singapore, as quoted by The Business Times (BT).
\nThe tender for the sites closed on 18 January, after the government had introduced its latest property cooling measures.
\nOne developer told BT that if the tender for the sites closed before the measures, the Lentor plot would have received eight bids instead of four. He also would have expected the Jalan Tembusu site to fetch 12 bids instead of eight.
\nIn line with the Dec 2021 property cooling measures, Additional Buyer\u2019s Stamp Duty (ABSD)\u00a0rates for housing developers\u00a0were hiked to 40% (35% ABSD may be remitted upfront subject to conditions, with non-remittable 5% ABSD). This factor may have led\u00a0to developers exercising more restraint\u00a0when bidding for a GLS site.
\n7) HDB issues $950mil Fixed Rate Notes
\nThe Housing and Development Board (HDB) has issued $950 million, seven-year\u00a0Fixed Rate\u00a0Notes as part of its $32 billion Multicurrency Medium Term Note (MTN) Programme.
\nRated AAA by Fitch Ratings, the notes come in denominations of $250,000 with a coupon of 1.971% per annum payable semi-annually in arrear. They are set to mature on 25 January 2029.
\nHDB noted that while approval in principle for the notes\u2019 listing on the Singapore Exchange Securities Trading has been obtained, it should \u201cnot be taken as an indication of the merits of HDB, its subsidiaries or the notes\u201d.
\nPeriodically, HDB issues Fixed Rate Notes (or HDB bonds) to raise funds for government or stat board projects. The last time HDB issued Fixed Rate Notes was in May 2021.
\n8) Industrial rents, prices up in Q4 2021
\nIndustrial property prices and rents continued to increase in the fourth quarter of 2021, rising 1.4% and 0.2%, respectively, from the previous quarter, according to JTC data.
\nOn an annual basis, overall industrial prices climbed 4.4%, while rents increased 2%.
\nEdmund Tie noted that the hike was in line with the sector\u2019s broad recovery and is a testament to the resilience of the sector during the COVID-19 pandemic.
\nNotably, the industrial property market registered an occupancy rate of 90.1% in Q4 2021, which is unchanged from Q3 2021, but is 0.2 percentage points higher than the previous year.
\n9) CapitaLand buys JCube for $340mil
\nCapitaLand Development (CLD) has agreed to acquire leisure edutainment mall JCube from CapitaLand Integrated Commercial Trust (CICT) for $340 million.
\nLocated in Jurong Gateway, which is the commercial core of Jurong Lake District, the five-storey mall has a net lettable area (NLA) of 210,038 sq ft and a committed occupancy of 95.5% as of 31 December 2021, said CICT.
\nUpon completion of the acquisition, CLD revealed that CapitaLand Retail Management will continue to operate JCube while it explores options \u201cto reposition or redevelop the mall in line with the gradual transformation of Jurong Lake District\u201d.
\n10) Record $1.9bil in shophouse sales registered in 2021<\/p>\n

Shophouse sales in Singapore hit a record high of $1.9 billion in 2021, exceeding the combined transaction values in 2019 and 2020 at $915.9 million and $912.7 million, respectively, reported Singapore Business Review citing Knight Frank.
\nThis comes as over 50% of the 244 transactions last year fetched above $5 million.
\nNotably, freehold transaction volumes increased 51.6% year-on-year to 194 units, while freehold transaction values surged 84.1% year-on-year to $1.5 billion. Transaction volume for leasehold shophouses also increased to 50 in 2021 from 17 in 2020.
\nLooking ahead, Knight Frank expects the shophouse market to register a total sales value of $2 billion in 2022 as last year\u2019s investor interest for shophouses would likely spill over, amid the imposition of the latest cooling measures.
\nBrowse all shophouses for sale on PropertyGuru.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…HDB resale prices rose 12.7%, sales for new private homes, resale private properties up in 2021, and more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

25th January to 31st January 2022 Despite the fast-growing prices, sales of new private homes...<\/p>\n","protected":false},"author":1,"featured_media":124454,"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-124453","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\/2022\/02\/Singapore-skyline-cbd.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-wnj","jetpack-related-posts":[{"id":121031,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-hdb-resale-prices-increase-for-fifth-consecutive-quarter\/","url_meta":{"origin":124453,"position":0},"title":"Private home, HDB resale prices increase for fifth consecutive quarter","date":"July 23, 2021","format":false,"excerpt":"\r Private 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 Singapore\u2019s housing market has continued to remain resilient amid the COVID-19 pandemic, with private home prices\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/Singapore-condo.original.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"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":124453,"position":1},"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":111882,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-up-in-q3-2019\/","url_meta":{"origin":124453,"position":2},"title":"Private home prices, HDB resale prices up in Q3 2019","date":"October 25, 2019","format":false,"excerpt":"\r Meanwhile, buyer demand for\u00a0HDB resale flats has remained surprisingly resilient, with 6,264 resale flats changing hands, which is almost on par with the 6,276 units transacted in Q2 2019. Despite rising global uncertainties, the impact of additional cooling measures and lukewarm consumer sentiment, Singapore\u2019s real estate market continued to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/10\/ura-property-price-index-q3-2019-singapore.png?fit=550%2C283&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":86794,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-down-0-8-in-q1\/","url_meta":{"origin":124453,"position":3},"title":"HDB resale prices down 0.8% in Q1","date":"April 30, 2018","format":false,"excerpt":"\r This is the highest decline seen for resale flat prices in over two years.\u00a0 Prices for HDB resale flats fell by 0.8 percent in the first quarter of 2018 \u2013 its highest decline for the last nine quarters since Q1 2016, according to more complete data released by the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95053,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-rise-for-the-first-time-in-nine-quarters\/","url_meta":{"origin":124453,"position":4},"title":"HDB resale prices rise for the first time in nine quarters","date":"July 30, 2018","format":false,"excerpt":"\r The latest round of property curbs is expected to make buyers turn to the HDB resale market, where properties are cheaper. Prices of resale Housing Board flats climbed 0.1 percent in the second quarter of 2018 \u2013 its first increase after nine quarters of decline \u2013 hinting that HDB\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":125906,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-rise-at-slower-pace-in-q1-and-more\/","url_meta":{"origin":124453,"position":5},"title":"Private home prices, HDB resale prices rise at slower pace in Q1 and more","date":"April 25, 2022","format":false,"excerpt":"\r 19th April to 25th April 2022 Despite the property cooling measures, private home prices continued to increase in the first quarter of 2022, albeit at a much slower pace of 0.7%. 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