Geylang rise in prices is due to flat age Queenstown has surprisingly avoided big price increasesġ.Woodlands prices may have factored in the Woodlands North Coast project.Sembawang may be seeing a rise due to its younger population.Geylang rise in prices is due to flat age.HDB Towns that have seen slower price growth or even price dips: Here’s what we’ve found after looking at the data. This could usher in new considerations for both buyers and sellers in the HDB resale market. According to Christine Sun, Senior Vice-President of Research and Analytics at OrangeTee & Tie, some parts of Singapore have seen more modest price increases, while others have even experienced decreases in certain flat sizes.Īs a matter of fact, 2023 has painted a more diverse and complex picture of the market, where select estates across are beginning to show signs of slowing growth and even occasional price drops. Conversely, three-room flat prices have seen a dip of 0.5%. For instance, median prices of five-room and four-room flats rose by 1.9% and 1.5%, respectively. It is evident that the rate of increase in prices is slowing, suggesting a potentially cooling market.Īdditionally, price trends varied across different flat sizes and regions, revealing a nuanced market landscape. While resale prices did see an uptick of 1.4% from the previous quarter, this growth rate is notably less than the 2022 average quarterly increase of 2.5%. In the second quarter of 2023, resale flat volumes fell by 4.6% year on year, marking the lowest level in three years since Q3 2020. However, a closer look at recent data suggests a moderating trend in HDB resale prices across various regions in Singapore. It is true that prices have surged to unprecedented heights, in part fueled by a growing demand for larger homes, and also due to the BTO supply over the last few years. As the dust of the post-Covid phase begins to settle, the narrative surrounding the HDB resale flat market appears to be changing.
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