Analysts expect the HDB resale market to remain robust in the second half of 2024 and for home buying momentum to pick up in the private housing market.
New: You can now listen to articles.SINGAPORE: Prices of Housing Board resale flats rose by 2.1 per cent in the second quarter of 2024, higher than the
"While overall economic conditions are sound, the global economic outlook is subject to uncertainties, particularly stemming from ongoing geopolitical instabilities that could precipitate global supply and demand shocks," it said. Unsuccessful applicants for the sole SBF exercise in February turned to the resale market in the second quarter, said Lee Sze Teck, senior director of data analytics at Huttons.
Sale transaction volume up to mid-June was"broadly unchanged from the previous quarter", said the URA. There were 4,215 transactions in Q2, compared to the 4,230 in the first quarter of this year. The smaller supply in Q2, “has resulted in a significant decline in new home sales, which in turn has put downward pressure on the overall price index since new homes typically command higher prices in the market,” said Ms Sun.
This sentiment was echoed by Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc , who also pointed out that no SBF exercise would be conducted in November.
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