Mind the gap opening up as HDB resale market slows while million-dollar sales spike
Watch out for inequality and negative wealth effects as prices moderate broadly, but the premier segment strengthens
[SINGAPORE] According to the Housing & Development Board’s (HDB) latest data, resale flat prices fell in the second quarter, with the HDB Resale Price Index moderating by 0.3 per cent quarter on quarter following a 0.1 per cent quarterly decline in Q1.
Resale volume in Q2 was up slightly versus that in the first quarter, but was down on a year-on-year basis.
An increase in the supply of HDB Build-To-Order (BTO) flats, including units with shorter waiting times, has likely helped moderate demand for resale units.