HDB resale prices in 2024 could outpace 2023 amidst high demand from first-time buyers, downsizing private homeowners, and limited flat availability, real estate expert said.
OrangeTee stated that the limited availability of flats in certain areas is likely to maintain stable prices or cause them to trend higher in the coming years. "In Q1 2024, the average resale price in both mature and non-mature towns rose on higher sales volume. The average price of resale flats in mature estate rose by 3.4% QOQ to about $633,500 while that of resale flats in non-mature towns grew by 1.6% QOQ to almost $565,600, according to transaction data," PropNex.
In addition to rising prices, experts also predict that the HDB resale market will experience an increase in volume over the coming months.
Source: Real Estate Daily Report (realestatedailyreport.net)
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