[SINGAPORE] Housing and Development Board (HDB) resale prices continued to rise in the first quarter of 2025, albeit at a slower pace of 1.5 per cent compared with the 2.6 per cent recorded in Q4.
Resale prices also rose slower than the average quarterly growth of 2.3 per cent in 2024, flash data from HDB indicated on Tuesday (Apr 1).
“We are seeing early signs of moderation in price growth across both the public and private housing markets,” said National Development Minister Desmond Lee in a Facebook post.
Transaction volumes of resale flats stood at 6,392 units as at Mar 27, down 7.7 per cent from the same period the previous year.
In July, HDB will launch about 5,400 Build-To-Order (BTO) flats in Bukit Merah, Bukit Panjang, Clementi, Sembawang, Tampines, Toa Payoh and Woodlands.
It will also conduct a second Sale of Balance Flats (SBF) exercise this year. Together with the February SBF exercise, where some 5,500 flats were offered, the combined annual supply will be about 8,500 flats, marking the largest since 2017, said Lee.
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The agency said: “HDB will continue to roll out a strong supply of flats, with more than 50,000 BTO flats to be launched from 2025 to 2027, including 19,600 BTO flats to be launched in 2025.”
In total, the agency will launch about 130,000 flats from 2021 to 2027, increasing the public housing stock by 11 per cent.
The minister said there is currently some supply tightness in the resale market. “In the past few years, there were fewer flats reaching the Minimum Occupation Period (MOP), partly due to Covid-19 construction delays.”
But more resale flats will be put on the market, as the number of new flats reaching the MOP will increase, from about 8,000 this year to 13,500 next year, to 19,500 in 2028. “This means that more resale flats are entering the market soon and the supply tightness will ease,” said Lee.
From the July BTO sales exercise, the allocation quota for second-timer families buying three-room and bigger flats will be raised by five percentage points. The deferred income assessment scheme will also be expanded to cover young couples where only one party is a full-time student or national serviceman.
The new Family Care Scheme (Proximity) will also be rolled out for prospective homebuyers to have priority access if they are applying for a flat to live with or near their parents.
HDB’s Fresh Start Housing Scheme will also be enhanced, with an increase in housing grant to enable more public rental households with children to attain home ownership.
