Orange Tee & Tie head of research and consultancy Christine Sun said some demand could have been drawn from the Build-To-Order market.
HDB said around 9,300 BTO flats in various estates will be offered next month and February next year. The next Sale of Balance Flats exercise will also be held next month, barring any unforeseen circumstances. "As newer flats tend to command higher prices than older ones, the overall price index could have been 'uplifted' by the newer flats. Some sellers have also raised their asking price since housing demand has returned," she said.
Ms Sun said the property market is still at risk from a confluence of economic challenges - a global economic slowdown, a grim employment outlook and the adverse impact of the withdrawal to come of government support measures for businesses.
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