The property market of Singapore has seen a deceleration in growth in the past couple of years, and the trend continues into 2022. Latest reports indicate that the prices of private homes and HDB resale flats have seen a notable slowdown, signalling adverse trends in the market.
Private Homes, HDB Resale Flats Slow in 2022
The real estate market has seen a moderation in private home and HDB resale flat prices in 2018. According to new figures released from the Singapore government, private home and HDB resale flat prices have started to show a slow down in 2022.
The trend of moderating prices was seen throughout most of 2018 in both private and HDB markets. Private homes experienced a slow down in prices that ranged from 0.4% to 1.4% for different property markets. HDB resale flats on the other hand experienced a decrease in prices ranging from around 1.5% to 2.3%.
Experts predict that this is the start of a trend of slower price growth in the housing market. This would mean that prices may be more stable and reasonable to homeowners, and make it easier to plan out long-term investments.
These are the updates to the Singapore real estate market.
- Private home prices were seen slowing down between 0.4% to 1.4%.
- HDB resale flat prices were seen decreasing between 1.5% to2.3%.
- Experts predict that this may be the start of a trend of slower price growth in the housing market.
Overall, these figures suggest that the price of private homes and HDB resale flats are expected to see slower growth in the coming year. This information can help those weighing the pros and cons when it comes to buying a property in 206. All in all, it seems that the property market in 2022 is likely to be more balanced and fiscally responsible.