“There are encouraging signs that our efforts to stabilise the market are bearing fruit,” he adds, noting that resale prices for Housing and Development Board (HDB) flats rose by 4.8% in 2023, which is less than half of the increase in the year before and below pre-Covid-19 levels.
The housing market is expected to continue to stabilise in the coming year with a “significant” supply of new homes coming on stream, says Minister for National Development Desmond Lee. Lee is also the Minister-in-Charge of Social Services Integration.
Lee was speaking at United Overseas Bank (SGX:U11
) ’s (UOB) secured loans’ Chinese New Year gala dinner on Feb 20.
