Home prices in Singapore kept up the growth momentum in Q3 2022, driven by robust home sales in the private and public housing market.
Flash estimates released by the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB) showed continued increase in both private home prices as well as HDB resale prices.
This was also probably why the authorities rolled out the 3 property cooling measures on 30th Sep 2022.
Singapore Home Prices Continues Growth In Q3 2022 : Private Residential Property Index for Q3 2022
(Flash Estimates)
The flash estimates from the Urban Redevelopment Authority (URA) showed that overall private home prices rose for the 10th straight quarter in Q3 2022, climbing up by 3.4% QOQ – following a 3.5% growth in the previous quarter.
Taking in the flash estimates, private home prices have now risen by 7.8% from end-2021. The flash estimates have been compiled based on transactions up till mid-September. The final print will be released on 28 October.
The non-landed private homes segment led growth in Q3 2022 where prices rose by 4.1% QOQ. Fresh mass market condo launches which had achieved robust sales at new benchmark prices during the quarter have spurred non-landed home prices, particularly in the suburban areas.
It would be interesting to see how CCR launches such as Enchante and Sanctuary@Newton perform in Q4 2022.
Singapore Home Prices Continues Growth In Q3 2022 : Q3 2022 HDB Resale Price Index
(Flash Estimates)
The flash estimates released by the Housing and Development Board (HDB) showed that resale prices of public housing flats rose by 2.4% QOQ in Q3 2022 – easing slightly from the 2.8% increase in Q2 2022.
Taking in the flash estimates, HDB resale prices have now risen by about 7.8% from end-2021. Based on transaction data, 7,270 HDB resale flats have been sold in Q3 2022 (till 30 Sep) – up by 6.6% from the 6,819 flats resold in the previous quarter.
