Housing Board (HDB) resale flat prices rose by 2.1 percent in the second quarter of 2024, accelerating from the 1.8 percent growth observed in the previous quarter. This marks the 17th consecutive quarter of price increases since the trend began in the second quarter of 2020, according to flash estimates released by HDB on July 1.
Factors Driving Growth
HDB attributed the rise in resale prices and transaction volumes to robust, broad-based demand for resale flats. The sustained increase highlights the strong interest and limited supply in the resale market.
Financial Prudence Advised
Given the elevated mortgage rates, HDB has advised potential buyers to exercise financial prudence. Households are encouraged to ensure that they can comfortably manage their mortgage payments over the long term to avoid financial strain.
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