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Despite the introduction of harsh real estate cooling measures as remarked by some industry players back in July 2018, private home prices continue to rise in 2019, racking up an increase by 2.5% in 2019 as compared to 7.9% in 2018.

Based on flash estimates by URA released yesterday, 2nd January 2020, overall private home price gains were driven by landed homes, where values rose 4% from the 3rd to 4th quarter, after gaining 1% in the previous quarter.  Transaction volume for landed homes has also remained stable between 2nd and 4th quarter.

HDB resale price index clocked up 2 straight quarters of price growth, gaining 0.4% in 4th quarter. This is likely the effect of policy changes such as Enhanced Central Provident Fund (CPF) Housing Grant and use of CPF funds for the purchase of older HDB likely the reason for the rise. Overall growth for HDB resale prices remained unchanged in 2019 according to HDB flash estimates.

With an approximate 16,000 to 17,000 BTO flats for sale this year, it will be interesting to see if the resale prices will be able to keep up the rising momentum.

See article for full details.

The Straits Times – 03rd January 2020

Details on OrangeTee and Tie’s comments and outlook for 2020 can be read from our new NEWSROOM website:

https://www.orangetee.com/newsroom/newsroomcontent.aspx?nid=lWTVIFr0zww=

https://www.orangetee.com/newsroom/newsroomcontent.aspx?nid=r7WnVZtEBuU=