Expert raises 2024 growth forecast for HDB resale prices to 7%-8%

Demand for resale flats is likely to remain robust for the remaining months.

Robust demand for resale flats will drive HDB resale prices up by 7% to 8% in 2024, OrangeTee said.

The expert stated that positive economic growth and improved hiring boosted consumer confidence, which in turn supported the public housing sector.

Additionally, OrangeTee said the October release of more flats will not significantly impact the HDB resale market, as most will be Plus flats with a 10-year Minimum Occupation Period and stricter resale conditions.

"Certain resale flats in the vicinity may still benefit from the Build-To-Order (BTO) sales launch due to the heightened awareness of the area and shorter five-year MOP," OrangeTee added.