Slower HDB Resale Price Hike in Q4 2022

The HDB resale market saw a continued rise in prices for the 11th consecutive month, albeit at a less steep incline of 2.3% in December 2022.

This marked the slowest quarterly increase in resale property prices in 2022, as the year recorded an overall price growth at 10.4%— a 2.3% decline from that for 2021.

The moderation in the price growth may be attributed to buyers’ resistance to higher prices, as rising interest rates and further property curbs against the backdrop of uncertain economic conditions in the second half of the year.

The price growth last year may also be attributed to the inclination for larger HDB flats, with work-from-home and hybrid working arrangements becoming the norm.

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