Launch of Bukit Merah, Queenstown BTO with prime location rules unlikely to impact current resale flat prices: Analysts

SINGAPORE — The launch of new public housing projects under the Prime Location Housing Model in Bukit Merah and Queenstown is unlikely to have a direct, near-term impact on resale prices in the vicinity, said analysts.

Nonetheless, the senior director for research at the real estate firm said that not many sellers would think in this manner as sellers are well aware that prices will be moderated by market forces. Prices of recently transacted flats in the vicinity would be the main determinant of resale unit asking prices.

In contrast, prices of the newly launched four-room BTO flats at the same two estates, while more costly than at other locations, begin from S$466,000 and S$495,000 after subsidies. “We suspect that the spill-over demand is not likely to be excessive to the extent that it results in substantial price increase of existing resale flats nearby,” said Mr Ismail Gafoor, chief executive of PropNex Realty.A 26-year-old communications professional who only wants to be known as Ms Crystal, was among those who applied for the Bukit Merah project on Friday.

Source: Real Estate Daily Report (realestatedailyreport.net)

5yrs later can sell $2mil 🤑

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

HDB launches over 4,500 BTO flats, including in Bukit Merah, Queenstown
Source: straits_times - 🏆 5. / 69 Read more »

HDB launches over 4,500 BTO flats, including in Bukit Merah, Queenstown under prime location modelA total of 4,583 Build-To-Order (BTO) flats were launched for sale by the Housing Board on Friday (May 27), including two projects in Bukit Merah and Queenstown under the prime location public housing (PLH) model which comes with a 6 per cent subsidy clawback clause upon their...
Source: thenewpaper - 🏆 7. / 63 Read more »

Voluntary tuberculosis screening for Block 2 Jalan Bukit Merah residents kicks off
Source: straits_times - 🏆 5. / 69 Read more »

More than 4,500 BTO flats launched by HDB, including prime area model projects in Bukit Merah, QueenstownSINGAPORE: A total of 4,583 Build To Order (BTO) flats across five estates were launched on Friday (May 27), including two projects under the Prime Location Public Housing (PLH) model in Bukit Merah and Queenstown. The other projects are in Toa Payoh, Jurong West and Yishun, said
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

More than 4,500 BTO flats launched by HDB, including prime area model projects in Bukit Merah, QueenstownSINGAPORE — A total of 4,583 Build To Order (BTO) flats across five estates were launched on Friday (May 27), including two projects under the Prime Location Public Housing (PLH) model in Bukit Merah and Queenstown.
Source: TODAYonline - 🏆 1. / 99 Read more »

Making space for yoga and meditation in his Bukit Panjang HDB resale flat
Source: straits_times - 🏆 5. / 69 Read more »