SINGAPORE — Prices of resale Housing and Development Board (HDB) flats rose by 1 per cent in the first quarter of 2023.
This increase is the smallest quarterly rise in the last 10 quarters, said HDB in a press release on Friday .
Mr Lim noted that first-time flat buyers are “typically very price sensitive” and have a smaller budget compared to second or third-time buyers who have already gained from the resale of their flats. “Further, rising global uncertainties and financial market volatility sparked by the banking crisis and global recessionary fears prompted buyers to be prudent in their home purchasers,” she added.
“In the first quarter of 2023, the number of million-dollar deals increased to 103, up from the 92 deals in the previous quarter of Q4 2022. The rise in million-dollar deals in the HDB resale market may be attributed to homebuyers, who were seeking larger spaces or unable to find suitable options in the private resale market,” he noted.
Resale transactions were 0.6 per cent higher in the first quarter of 2023 compared to the same period last year.
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