HDB Resale Prices Rise at a Slower 1% Pace in Q4 to End 2023 With 4.8% Gain: Flash Data
Housing and Development Board (HDB) resale prices continued to rise in the last quarter of 2023, albeit at a slower pace of 1 percent, compared with 1.3 percent in Q3.
Q4 resale price growth was also lower than the average quarterly growth of 2.5 percent in 2022, according to flash data from HDB on Tuesday (Jan 2).
The full-year increase of 4.8 percent was significantly less than the 10.4 percent rise in 2022 and the 12.7 percent increase in 2021, noted OrangeTee & Tie’s senior vice-president of research and analytics Christine Sun.
Private Home Prices up 2.7% in Q4, Taking Full-Year Rise to 6.7%
Private residential property prices in Singapore rose 2.7 percent for the fourth quarter of 2023, pulled up by sales at new launches priced at fresh benchmarks amid low transaction volume.
The Q4 spurt lifted the price index from a 0.8 percent increase in Q3, to end the year with a 6.7 percent gain, easing from the 8.6 percent increase in 2022 and 10.6 percent rise in 2021.
Tan Tee Khoon, PropertyGuru country manager for Singapore, pointed out that price fluctuations across 2023 suggest that private home prices have more or less peaked.
Local Firms’ Payment Performance Improves for Second Consecutive Quarter: SCCB
Local firms’ payment performance improved for the final quarter of 2023, with drops in slow payment across all sectors, said the Singapore Commercial Credit Bureau (SCCB) on Tuesday (Jan 2).
The Credit Bureau Asia unit noted that both prompt and slow payments accounted for slightly more than two-fifths of total payment transactions, similar to the previous three quarters.
On a quarter-on-quarter basis, prompt payments improved by 0.09 percentage point to 41.1 percent in Q4 from 41 percent in Q3. Slow payments fell by 0.1 percentage point to 44.2 percent in Q4. Partial payments inched up by 0.01 percentage point to 14.8 percent.
