Singapore HDB resale prices up 9.6% in 2024 | Real Estate Asia
, Singapore

Singapore HDB resale prices up 9.6% in 2024

This growth rate is almost double that of 2023’s 4.9%.

HDB resale prices grew slower in the final quarter of 2024. According to flash estimates released by HDB, the prices of HDB flats registered a 2.5 per cent increase in the fourth quarter of 2024, slower than the 2.7 per cent upturn observed in the third quarter of 2024. This represents the slowest growth rate since the second quarter of this year, during which prices rose by 2.3 per cent.

According to OrangeTee, for the whole of 2024, prices grew by 9.6 per cent, faster than the 4.9 per cent growth in 2023 but slower than the 10.4 per cent increase in 2022 and 12.7 per cent in 2021.

Here’s more from OrangeTee:

According to HDB caveat data from data.gov.sg, a slowdown in price growth has been observed for some flat types. For example, the median price of 4-room flats saw a quarter-on-quarter (q-o-q)  increase of 2.5 per cent in Q4 2024, a slower pace when compared to the 3.4 per cent growth in Q3 2024.

Similarly, 2-room flats rose by 2 per cent q-o-q in Q4, slower than the 3.9 per cent growth in Q3. Executive flats registered a 1.2 per cent q-o-q price increase in Q4, compared to 1.7 per cent in the earlier quarter. In contrast, prices for 5-room flats grew at a faster rate of 3.2 per cent in Q4, up from only 1.2 per cent in Q3. 

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