HDB resale prices rise 2.5% QoQ in Q3: flash estimates

It is the fastest growth rate since Q3 22.

HDB resale prices increased by 2.5% QoQ in Q3 2024, marking its fastest growth rate since Q3 2022, when prices rose by 2.6%.

Based on the Housing and Development Board's (HDB) flash estimates, resole volume also increased in Q3, rising by 20% YoY to 8,035.

HDB attributed the rise in volume and prices to strong and broad-based demand and supply constraints, with fewer new flats reaching the Minimum Occupation Period in 2024 compared to 2023.

HDB said the Q3 figures also capture market conditions before the Loan-to-Value limit for HDB loans was lowered from 80% to 75% on 20 August 2024, a measure to cool the resale market and encourage more cautious borrowing by home buyers.