HDB resale prices hit new record high after rising 8.9% this year: Flash data

Singapore

THE resale prices of Housing Board flats climbed for the sixth consecutive quarter to exceed their previous peak in the second quarter of 2013 by 0.7 per cent, flash estimates showed on Friday. HDB resale prices for the July-September period rose 2.7 per cent over the previous three months, slightly lower than the 3 per cent increases recorded in the first and second quarters of this year. Year on year, prices are up by 12.3 per cent.

Defying the Covid-19 economic slowdown, prices have risen strongly this year, in part due to delays in the completion of new HDB flats as the pandemic caused manpower shortages, supply chain disruptions and forced some construction firms out of business.