HDB & PRIVATE PROPERTY HOUSING PRICE INDEX FOR 2019: THE RISE OF THE MASS MARKET

According to the flash estimate released by the Urban Redevelopment Authority (URA), both the HDB & Private Property Housing Price Index for 2019 increased at a slower rate quarter-on-quarter (qoq) in 4Q 2019 as compared to 3Q 2019. The overall private residential price index expanded by 0.3% qoq in the last quarter of 2019.

OUTLOOK

The HDB & Private Property Housing Price Index for 2019 is mainly due to the rise of the mass market property pricing increasing. The HDB resale price index is expected to grow gradually in 2020 on the back of policies changes and new initiatives announced by the government in 2019, such as the introduction of Enhanced Housing Grant and changes in the use of CPF funds for the purchase of older HDB flats. For the private market, prices are also expected to rise, but in at more muted pace as it is affected by the various market curbs that are still in place.

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