SINGAPORE, July 26 — Demand for new public housing flats in mature estates is likely to remain strong, which could lead to the prices of resale units in these areas trending upwards, some property experts have said.
While BTO projects are usually oversubscribed, with more than one household applying for one unit, HDB revealed that the application rates for projects in mature estates are not only higher, but have increased more than those in non-mature estates. Low said such a trend has driven up HDB resale prices, especially those in mature estates, and led to an increase in the valuation of these areas.
Nicholas Mak, head of research and consultancy at ERA Realty, said redeveloping older estates also opens up another issue of relocating existing residents. Property experts noted that the authorities have put in a significant amount of effort to attract home buyers to non-mature estates.
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