Housing market showing early signs of price moderation: Desmond Lee
The housing market is showing early signs of price moderation amidst the rising economic uncertainty globally, said National Development Minister Desmond Lee.
This is after flash estimates released by of Housing and Development Board (HDB) and Urban Redevelopment Authority (URA) on Tuesday (April 1) showed slower growth in the price of resale flats and private properties.
Resale prices of HDB flats rose by 1.5 per cent in the first quarter of 2025, making it the slowest growth in the last five quarters
According to HDB's flash estimates, resale prices increased 1.5 per cent in the first quarter, down from the 2.6 per cent hike in the previous quarter and the average quarterly growth of 2.3 per cent in 2024.
On the resale volume in the first quarter of 2025, HDB said that in tandem with slower market conditions, the figure of 6,392 is 7.7 per cent lower than in the same period last year.
In a Facebook post on Tuesday (April 1), Lee said that the slow pace of growth can be attributed to the «sustained supply» of Build-To-Order (BTO) flats, as well as the largest-ever Sale of Balance Flats (SBF) exercise in Feb 2025.