This press release provides information on the upcoming flat supply and the HDB resale and rental markets in 1st Quarter 2023.

Upcoming Flat Supply

2 In May 2023, HDB will offer about 5,400 Build-To-Order (BTO) flats in towns/estates such as Bedok, Kallang Whampoa, Serangoon, and Tengah. In August 2023, HDB will offer between 5,200 and 6,200 flats in towns/estates such as Bukit Merah, Choa Chu Kang, Kallang Whampoa, Queenstown, and Tengah. These numbers are subject to review as more project details will be firmed up closer to the launch dates. HDB will continue to monitor the housing demand and is prepared to launch up to a total of 100,000 flats from 2021 to 2025.

HDB Resale Market

3 HDB’s Resale Price Index (RPI) for 1st Quarter 2023 is 173.6, an increase of 1.0% over that in 4th Quarter 2022 (see Annex A). This is less than half of the 2.3% increase in 4th Quarter 2022, and is the smallest quarterly increase compared to the last 10 quarters.

4 Resale transactions for 1st Quarter 2023 rose by 5.8% (382), from 6,597 cases in 4th Quarter 2022 to 6,979 cases (see Annex B). Compared to 1st Quarter 2022, resale transactions in 1st Quarter 2023 were 0.6% higher.

5 The median resale prices in the various towns in 1st Quarter 2023 are tabulated in Annex C.

HDB Rental Market

6 The median rents in the various towns in 1st Quarter 2023 are tabulated in Annex D.

7 The number of approved applications to rent out HDB flats rose by 13.9% (1,181), from 8,476 cases in 4th Quarter 2022 to 9,657 cases in 1st Quarter 2023 (see Annex E). Compared to that in 1st Quarter 2022, the number of approved applications in 1st Quarter 2023 was 5.2% lower. As at the end of 1st Quarter 2023, there were 56,652 HDB flats rented out, similar to the 56,647 units in the previous quarter.

Upcoming Flat Supply And 1st Quarter 2023 Public Housing Data