Singapore’s public housing resale market has recorded a price decline for the first time in nearly seven years, signaling a potential shift in the property landscape. Recent data indicates that HDB resale prices fell by a marginal 0.1% in March, ending a prolonged period of consistent growth that began in 2017. This downturn is attributed to a combination of high interest rates, government cooling measures, and a significant increase in the supply of new Build-To-Order flats. The dip suggests a move toward market stabilization after years of rapid price appreciation.
- HDB resale prices decreased by 0.1% in March 2024, marking the first such decline in approximately seven years.
- The volume of resale transactions also fell, with a month-on-month decrease of roughly 3.3%.
- Analysts suggest that elevated mortgage interest rates are making buyers more cautious and price-sensitive.
- Government cooling measures, including tighter loan-to-value limits, have contributed to moderated demand in the resale sector.
- An increased supply of Build-To-Order (BTO) flats has offered more alternatives to prospective homeowners, easing pressure on resale prices.
Based in Singapore, CNA (Channel News Asia) covers global developments with an Asian perspective, with correspondents based in major cities across Asia, including Kuala Lumpur, Jakarta, Bangkok, Tokyo, Seoul and Beijing, as well as in New York, Washington D.C. and London.
Official website: https://www.channelnewsasia.com/
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"We intend to keep the value of these homes up, it will never go down. Because it will be renewed, the surroundings will improve, and as Singapore prospers, GDP goes up, the value of homes will go up."
Lee Kuan Yew
2013, at the launch of Tanjong Pagar's 5-year Master Plan
Guess the promise in 2013 during a Tanjong Pagar speech by LKY.
Lee Kuan Yew: Your HDB home value will never drop!
Was not true.
Wait till VERS then you know!🤭
The real every day sg: What's important singapore became a multi-nation country, multi-nation-singapore so even with all the saf soldiers also no use totally, it's the pap party mistakes and there's no way to u-turn back. No more one nation, one people, one singapore, but a multi-nation people and no more singapore, but a multi-nation-singapore, all are the sg fishy pap party mistakes & there's no way to u-turn back of course.
Previously who said must take the jabs? I didn't had any brand of the jab previously and that's why never sick before, as majority people said after they took the jabs previously but nowadays they only became more and more easily to fall sick, it's the pap party mistakes and there's no way to u-turn back.
Who be the fishy Pm (past and present) also no use totally, majority people said they choose the fishy pap party but only getting more and more sufferings and problems from the pap party always of course, pap party not ashame and continue doing their own ways?
The fishy pap party holding all the money and own self collect own self 's highest pay etc, but only gave singaporeans a little money the pap party call helping the people, pap party not ashame?
As people still gathering/traveling, don't forget it's always a matter of time before the next biggest spike in cases, and it's those people last travel of their lives of course.
SURPRISINGLY majority people said ALL (all) people in singapore are the REAL (real) every day opposition people themselves, each have their own ways of course, pap party a shame to s'poreans.
What's important the fishy pap party still dare to allow non singaporeans to buy hdb flats, even knowing sg run out of land to build hdb flats and run out of road for cars, pap party not ashame and still can face the people?
Majority people said those who likes to choose the fishy pap party only means those people love sufferings, and drag all people into sufferings, pap party not ashame and continue doing their own ways?
The real every day sg became: No more one nation, one people, one singapore, but a multi-nation people and no more singapore, but a multi-nation-singapore, all are the sg fishy pap party mistakes & there's no way to u-turn back of course.
Also majority people said there are no more food safety and other safety in sg, the next meal the people eat are the last meal of their lives of course. Not only the platform work, but a lot of restaurants and eating places also using illegal foreign workers in the kitchen, but the fishy pap party just close one eye and all these problems still remains.
Are s'poreans rich or have good pay jobs? Of course not as more than 87% of people lives in hdb flats and not private houses/condos, it's one of many examples of failed management by pap party, not ashame?
The real every day singaporeans: Majority people said those who trust and support and choosing the fishy pap party surely every year to get another fresh rounds many types of jabs, and if they want to travel overseas, they take another rounds of many types of jabs again of course.
Also don't forget a lot of NS boys (soldiers) became NoSoul boys during their service, it's the pap party fault but most cases were covered up by the pap party of course, pap party not ashame? The real every day singaporeans:
Sg smart nation: No
Sg money scams nation (and jabs scams): Yes
Also sg became a multi-nation-singapore: Yes
So no more sg, no way to u-turn back of course. Are s'poreans rich or have good pay jobs? Of course not as more than 87% of people lives in hdb flats and not private houses/condos, it's one of many examples of failed management by pap party, not ashamed?Also don't forget a lot of NS boys (soldiers) became NoSoul boys during their service, it's the pap party fault but most cases were covered up by the pap party of course, pap party not ashame? The real every day singaporeans:
Sg smart nation: No
Sg money scams nation (and jabs scams): Yes
Also sg became a multi-nation-singapore: Yes
So no more sg, no way to u-turn back of course. Are s'poreans rich or have good pay jobs? Of course not as more than 87% of people lives in hdb flats and not private houses/condos, it's one of many examples of failed management by pap party, not ashamed?
Don't forget the fishy pap party don't want to choose any side (usa or china) so lost the whole world of course. Also how the fishy pap party going to manage all the multi -nation people in a multi -nation singapore?
What's important since sg tops world first in scams nation, majority people said it's a matter of time before the remaining singapore reserves $$ and gold bars be scammed away, or by the pap party of course.
And people still ordering food delivery? People still trust the food delivery boys? People still dare to eat the food from the delivery boys? People still not afraid that's the last meal of their lives? The real every day sg: Not only the platform work, but a lot of restaurants and eating places also using illegal foreign workers in the kitchen, but the fishy pap party just close one eye and all these problems still remains.
Under the fishy pap party, sg became world's No.1 most cases of money scams nation, and previously the nation wide jabs scams(still the fishy pap party dare to approve it) during shutdown, and also many other types of jabs scams, as well as all kinds of other scams too(eg. singpass scams, nric no. scams, vapes scams, love scams, bto flats renovations scams, sim cards scams, e-sim scams, parcels/foods delivery scams, and the list goes non ending…) The pap party a shame to s'poreans.
Time is bad is time there are many HDB flats today resale not able to sell in market.
Yet another bad and sad news from the pay and pay.
those still waiting for "property crash" to happen can continue to dream on ; there will be no stopping in the price increase for sg properties, not just good location HDB or pte condo , but even expensive apex asset class ie the FH landed. mark my words, the price of FH landed will skyrocket in the next few years , together with good location HDB with good tenure remaining, good location pte condo be it FH or LH with good tenure
99 yr LEASE goes to ZERO Value ANYWAYS