Singapore’s total HDB sales volume to reach up to 27,000 units this year

And the growth of resale prices may slow to 4-6%.

According to OrangeTee, some of the residential demand in Singapore may be diverted to the BTO market since HDB will continue to launch new flats in various locations in the second half of this year. 

About 6,700 BTO flats will be offered for sale in the August sales launch, while around 6,300 BTO flats will be offered in November. 

Here’s more from OrangeTee:

Some first-timers may be enticed as HDB will launch more flats in mature estates like Kallang/ Whampoa, Queenstown, Bedok, and Bukit Merah which are usually popular with buyers. The completion times for many of these projects may also be shortened. 

Stricter rules will be imposed for the non-selection of BTO flats from August 2023. First-timers who lose their priority when they reject HDB's offer to pick BTO flats will likely turn to the resale market. Therefore, demand for resale flats may increase further in the second half of this year. 

Resale buyers who do not qualify for HDB loans may find some reprieve if interest rates stabilise and moderate from the second half of this year. Buyer affordability may improve when financing costs are lower. 

We estimate the total sales volume may reach 25,000 to 27,000 units this year. Resale prices may continue to rise but at a slower pace of 4 to 6 per cent in 2023 compared to 10.4 per cent in 2022 and 12.7 per cent in 2021.