Property prices sky-rocketed during three years of Covid-19 pandemic (from end 2019 to end 2022).
HDB Resale Price Index shot up 30.7% over the 3-year period.
Property Price Index for Private Residential Properties shot up 22.8%.
Imagine a private property costing $1,000,000. It could fetch $1,228,000 theoretically now.
| HDB Resale Price Index | |||
| Year | Index | % Change | 3-year change |
| 2022 | 171.9 | 10.4% | 30.7% |
| 2021 | 155.7 | 12.7% | |
| 2020 | 138.1 | 5.0% | |
| 2019 | 131.5 | NA | |
| Property Price Index for Private Residential Properties | |||
| Year | Index | % Change | 3-year change |
| 2022 | 188.6 | 8.6% | 22.8% |
| 2021 | 173.6 | 10.6% | |
| 2020 | 157.0 | 2.2% | |
| 2019 | 153.6 | NA | |
No wonder, property agents are knocking at property owners’ doors for a chance to sell their units on the market.
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