Singapore’s HDB resale transactions slated to breach 2020 totals

There were a total of 24,748 resale transactions last year.

According to a report by OrangeTee Research, there were 23,077 resale transactions in the first three quarters of this year, which is almost on par with the full-year sales in 2018 (23,099 units) and 2019 (23,714 units). 

The total resale transactions for 2021 is poised to surpass last year’s numbers, which stands at 24,748 units. 

Here’s more from OrangeTee:

The public housing sector may be looking at another banner year in 2022. Even as the authorities push out more BTO flats to meet the increasing housing needs, the construction sector may struggle to clear the backlog of flat completions. The sector may continue to grapple with global supply chain disruptions and manpower shortages. As such, the supply chain bottlenecks may slow down the construction of new flats and delay completion timelines, which may cause more buyers to turn to the resale market to meet their housing needs. 

Next year, we may see more million-dollar flat transactions as more flats are expected to reach their five-year occupation period. Some of these flats are located in mature estates like Bukit Merah, Queenstown, Ang Mo Kio and Toa Payoh, which tend to fetch higher resale prices.

We anticipate that resale flat prices may rise by 10 to 12 per cent this year (Chart 6). Prices could climb further but at a slower pace of between 8 and 11 per cent next year due to the higher selling prices and price resistance seen at some locations. As prices continue to climb, resale volume may dip by around 13 per cent to between 25,000- and 27,000- units in 2022.