HDB resale price held steady in Q1

The pandemic may have negated the positive growth in the recent months.

HDB resale price remained unchanged in Q1 2020, according to flash estimates from the Housing & Development Board (HDB). It slowed from the 0.5% growth in Q4 2019, but recovered from a 0.3% dip in Q1 2019.

The COVID-19 pandemic may have negated some of the policy changes implemented in the past few months, hence the slowing of prices after two consecutive quarters of rise, according to Christin Sun, OrangeTee & Tie’s head of research & consultancy,.

There is expected to be a limited upside for major price growth in 2020, but a silver lining could come in the stimulus packages unveiled by the government.

“The hefty stimulus package unveiled by the government last week to keep unemployment low and the economy running will certainly help to sustain housing demand and ensure prices of flats remain stable in the coming months,” Sun added.

In May, HDB will offer about 3,700 build-to-order (BTO) flats in Choa Chu Kang, Pasir Ris, Tampines and Tengah. In August 2020, it will offer about 4,100 BTO flats in Ang Mo Kio, Bishan, Geylang, Tampines and Woodlands.