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Moderating growth in home prices and a big Orchard Road deal

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Leslie Yee

Leslie Yee

Published Mon, Oct 9, 2023 · 09:46 AM
    • The residential property market could be adversely impacted if interest rates stay at an elevated level for a long time, writes BT senior correspondent Leslie Yee.
    • The residential property market could be adversely impacted if interest rates stay at an elevated level for a long time, writes BT senior correspondent Leslie Yee. BT SCREENSHOT

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    PRIVATE home and Housing and Development Board (HDB) resale flat prices recorded quarterly rises in Q3 according to flash estimates by the Urban Redevelopment Authority (URA) and the HDB respectively. 

    Still, some of the fizz is coming off the high-flying Singapore residential property market. The 1.2 per cent quarterly rise in the HDB Resale Price Index in Q3 was lower than the 1.5 per cent growth in Q2 and the average quarterly growth of 2.5 per cent in 2022.

    Private home prices rose 0.5 per cent in Q3, following a 0.2 per cent fall in Q2. The average quarterly rise of around 0.2 per cent over the past two quarters was lower than the average quarterly increase of 2.1 per cent in the whole of 2022.

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