Hdb, Housing, Singapore Property

Hdb, Housing

82 HDB resale flats sold for at least S$1m in 2020: SRX

82 HDB resale flats sold for at least S$1m in 2020: SRX

7/1/2021 10:36:00 AM

82 HDB resale flats sold for at least S$1m in 2020: SRX

[SINGAPORE] The number of Housing Board resale flats sold for at least S$1 million hit a new high last year amid a strong showing by the market despite the Covid-19 pandemic, according to flash data from real estate portal SRX released on Thursday. Read more at The Business Times.

Tell us what you think. Email us atbtuserfeedback@sph.com.sgSaid Mr Mak:"The resale transactions of HDB flats that recently completed the five-year minimum occupation period continue to exert its influence on the HDB price index. These newer flats would usually be sold at higher prices than the older flats in the same vicinity."

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Some of the locations with new resale flats that were transacted at higher prices are Dawson, Punggol and in Boon Tiong Road, he said.Meanwhile, monthly sales hit 2,489 units in December, according to SRX estimates. This is the seventh straight month where resale flat transactions surpassed the 2,000-unit mark, mitigating the sharp drop in sales in April and May during the circuit breaker.

Based on SRX's figures, the string of strong monthly sales took the total resale flat volume to 23,427 units for the full year of 2020, which is 4.3 per cent higher than in 2019.Mr Mak said the pandemic actually fuelled that expansion of the HDB resale market. headtopics.com

"Before Covid-19 became a household word, applicants for HDB Build-To-Order (BTO) flats may have had to wait about three years to get the keys to their new flats. The pandemic led to bottlenecks and delays in the construction of many public housing projects, which could add another one to two years to the completion of the flats. As a result, some potential HDB BTO applicants are turning to the resale market for their home purchases."

He added that December is also usually a lull period in the property market, but the travel restrictions that kept many Singaporeans at home mean that the HDB resale market continued to operate as normal.OrangeTee head of research and consultancy Christine Sun noted that the unexpected housing boom is also likely to be"fuelled by the record-low mortgage rates, huge fiscal stimulus programmes designed to fend off an economic disaster and the slew of policy changes made to improve the HDB market conditions over the past two years".

Propnex head of research and content Wong Siew Ying added:"Our market observations suggest that buying interest remains keen and the rebound in sales in recent months have prompted some sellers to increase their asking price."In addition, stiff competition for choice flats also saw buyers offering a higher price in order to secure the unit."

Areas such as Bishan Street 24 and Dawson Road saw some of the million-dollar HDB resale transactions last month.The highest transacted price for a resale flat last month was achieved at S$1.22 million by a five-room Design, Build and Sell Scheme unit at Natura Loft. headtopics.com

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The HDB resale market is likely to stay strong this year, experts said.Ms Sun said:"We may expect demand for HDB resale market to continue to do well this year. We anticipate that the prices of resale flats may rise further by 2-5 per cent."

Resale volume may also increase by another 3 per cent to 5 per cent to around 24,000 to 26,000 units for the whole of 2021, she said.THE STRAITS TIMESBT is now on Telegram! Read more: The Business Times »

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Record 82 million-dollar HDB flats sold in 2020, SRX data showsSINGAPORE — The number of Housing and Development Board ( HDB ) flats that were sold for at least S$1 million hit a historic high last year, despite the Covid-19 pandemic and economic downturn, flash data released by real estate portal SRX on Thursday (Jan 7) has shown.

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