I guess we all saw it coming. The increasing interest rates: at press time, floating rates are now at least 2.7 per cent and fixed rates 3.35 per cent, ballooning by over 1 per cent from a year ago. The overheated HDB resale market: despite a round of measures announced in December 2021, the HDB Resale Price Index still increased by more than 5 per cent at the end of Q2 2022, which showed the healthy demand for public housing.
Most eye-catchingly, the increasingly common news reports of million-dollar HDB flats. By early October 2022, HDB had already recorded 277 million-dollar HDB resale flat transactions, breaking the record of 259 units sold in 2021.
Sure enough, the latest round of cooling measures jointly announced by the Monetary Authority of Singapore
