HDB flash estimates: Resale prices grow 1.2 per cent in first quarter

Prices of resale Housing Board (HDB) flats have risen slower in the first quarter of this year compared to the preceding quarter, preliminary data shows.

According to HDB's flash estimates released on Monday, the resale price index rose 1.2 per cent, the lowest quarter-on-quarter growth since the first three months of last year.

Property analysts predict the rising trend to continue, although at a slower pace given the slew of cooling measures announced in January and the move to unpeg new flat prices from resale units.

OrangeTee's head of research Ms Christine Li noted that the resale flat supply might also be tightening, as permanent residents are hit by higher duties should they want to upgrade. More data will be released by HDB later this month. HDB is also launching close to 8,000 flats in May.