HDB resale prices could slow to 6-8 per cent growth in 2023

HDB resale prices will likely rise at a slower pace in 2023, with property curbs and an expected ramp up in BTO flat supply offsetting demand and tighter resale stock. PHOTO: ST FILE
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SINGAPORE - HDB resale prices are likely to rise at a slower pace in 2023 following two years of blistering growth, with demand and a tighter supply of resale stock offset by the latest property curbs and an expected boost in Build-to-Order (BTO) new flat supply.

While most analysts say HDB resale prices could gain between 9 per cent and 10 per cent in 2022, down from the 12.7 per cent growth in 2021, PropNex Realty head of research and content Wong Siew Ying sees price growth in 2023 slowing even further to between 6 per cent and 8 per cent due to the cooling measures and some price resistance setting in.

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