This press release provides information on the upcoming flat supply and the HDB resale and rental market in 3rd Quarter 2022.

Upcoming Flat Supply

2 To meet the different housing needs and budgets of Singaporeans, HDB will provide a wide range of flats in various locations in its upcoming sales exercises. In November 2022, HDB will offer about 9,500 Build-To-Order (BTO) flats in towns/estates such as Bukit Batok, Kallang Whampoa, Queenstown, Tengah and Yishun. In addition, in February 2023, HDB will offer about 2,900 to 3,900 BTO flats in towns/ estates such as Kallang Whampoa, Queenstown and Tengah. These numbers may change as more project details will be firmed up closer to the launch date. More information on the BTO flats is available on the HDB InfoWEB.

3 HDB will launch up to 23,000 BTO flats in 2023 and is prepared to launch up to 100,000 flats in total from 2021 to 2025 if needed, subject to prevailing demand. HDB will continue to monitor the housing demand and adjust the plans where necessary.

HDB Resale Market

4 The Resale Price Index (RPI), which reflects the general price movements in the resale market, for 3rd Quarter 2022 is 168.1, an increase of 2.6% over that in 2nd Quarter 2022 (see Annex A). This is a slower increase than the 2.8% increase in 2nd Quarter 2022.

5 Resale transactions rose by 10.7%, from 6,819 cases in 2nd Quarter 2022 to 7,546 cases in 3rd Quarter 2022 (see Annex B). Compared to 3rd Quarter 2021, resale transactions in 3rd Quarter 2022 were 10.5% lower.

6 The median resale prices in the various towns in 3rd Quarter 2022 are tabulated in Annex C.

7 These statistics on the HDB resale market reflect the market conditions prior to the measures implemented on 30 September 2022 to promote sustainable conditions in the property market. HDB will continue to monitor the resale market closely to ensure that public housing remains affordable and accessible for Singaporeans.

HDB Rental Market

8 The median rents in the various towns in 3rd Quarter 2022 are tabulated in Annex D.

9 The number of approved applications to rent out HDB flats fell by 12.0%, from 9,309 cases in 2nd Quarter 2022 to 8,192 cases in 3rd Quarter 2022 (see Annex E). Compared to 3rd Quarter 2021, the number of approved applications in 3rd Quarter 2022 was 21.4% lower. As at the end of 3rd Quarter 2022, there were 56,372 HDB flats rented out, an increase of 0.6% over the previous quarter (56,014 units).