{"id":113985,"date":"2020-01-31T09:47:12","date_gmt":"2020-01-31T02:47:12","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/newer-hdb-flats-reach-record-sales-in-2019\/"},"modified":"2020-01-31T10:06:11","modified_gmt":"2020-01-31T03:06:11","slug":"newer-hdb-flats-reach-record-sales-in-2019","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/newer-hdb-flats-reach-record-sales-in-2019\/","title":{"rendered":"Newer HDB flats reach record sales in 2019"},"content":{"rendered":"


\nA lot of home owners lately have been selling off their Housing Board flats once they reach the minimum occupancy mark, reported The Straits Times.
\nSales of HDB flats that are less than 10 years old recorded a nine-year high in 2019, as 4,578 units were moved. This was a 33.4% increase compared to the 3,432 units sold in 2018.
\nSales were at its lowest in 2014, with only 1,021 being moved.
\nThis increasing number of newer flats being sold off by young Singaporeans raises the question of whether this generation treat the flats as a lifetime home or an investment to be sold at the right price.
\nProperty experts explained that the trend is an indication of the upgrading aspirations and changing lifestyles of the younger generation.
\n\u201cWith higher education and rising income, it\u2019s unsurprising that the younger generation of home owners are desiring to upgrade to a bigger flat or a private property, after their first BTO purchase,\u201d said Christine Sun, head of research and consultancy for OrangeTee & Tie.
\nNicholas Mak, ERA Realty\u2019s head of research and consultancy, said that some may be embracing the idea of moving up the property ladder to upgrade to a bigger and better home, as well as to improve the quality of life.
\nChanges in family or financial circumstances may also be reasons for selling, he noted.
\n\u201cIn that five to eight years of waiting for the BTO to be completed and actually living in it, their family size might have grown. They may want to move closer to their preferred primary school or their parents or in-laws,\u201d he said.
\nBuild-To-Order unit owners have to reach a five-year minimum occupation period (MOP) before they are allowed to re-sell their unit.
\nThis MOP starts to run from the date the owners collect the keys and does not include the period where the owners do not occupy the unit.
\nThe HDB increased the supply of new flats after the occurrence of a housing shortage, with at least 25,000 flats launched annually from 2011 to 2013.
\nThis resulted in more than 80,000 flats becoming available for resale in the next three years, as the flats hit their MOP mark.
\nAbout 30,000 units reached their MOP last year, with 24,000 reaching it this year. In 2022, at least 31,000 units are expected to also reach their MOP.
\nThe demand for newer flats have increased steadily from 2014, when flats less than a decade old comprised just 6.3% of the total number of units sold.
\nThe figure stood at 20.6% in 2019, 15.7% in 2018 and 13.7 in 2017.
\nSun believes that the quantity of newer units being sold will probably go on the rise side by side with the number of flats hitting their MOP.
\n\u201cThe increase in flat supply may have some downward pressure on the selling price, so price growth could be limited in the coming years. On the bright side, this means buyers will have more options to choose from,\u201d she said.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Newer HDB flats reach record sales in 2019<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A lot of home owners lately have been selling off their Housing Board flats once...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-113985","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tEt","jetpack-related-posts":[{"id":122114,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-bto-flats-sold-within-a-year-of-reaching-mop-doubles-from-2016-to-2020\/","url_meta":{"origin":113985,"position":0},"title":"More BTO flats sold within a year of reaching MOP, doubles from 2016 to 2020","date":"September 21, 2021","format":false,"excerpt":"\r 13.4% of\u00a0BTO flats which reached their MOP were sold within a year, up from 6.5% in 2016. The Housing and Development Board\u2019s (HDB) statistics showed that the proportion of Build-to-Order (BTO) flats that were sold within one year of achieving their Minimum Occupation Period (MOP) has doubled from 2016\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/HDB-EIP.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":76294,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/118-hdb-flats-involved-in-mortgagee-sales\/","url_meta":{"origin":113985,"position":1},"title":"118 HDB flats involved in mortgagee sales","date":"January 11, 2018","format":false,"excerpt":"\r There had been 118 cases of completed mortgagee sales involving HDB flats from January 2013 to November 2017, according to a parliamentary reply from the Ministry of National Development on Wednesday (10 January). It stated this in response to a question from Gan Thiam Poh, Member of Parliament (MP)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93025,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-0-1-govt-to-offer-bto-flats-in-punggol-and-yishun\/","url_meta":{"origin":113985,"position":2},"title":"HDB resale prices up 0.1%, govt to offer BTO flats in Punggol and Yishun","date":"July 3, 2018","format":false,"excerpt":"\r Demand for HDB resale flats is stronger due to interest from displaced en bloc owners and positive sentiment in the private residential market.\u00a0 Prices of HDB resale flats edged up 0.1 percent in Q2 2018 on a quarterly basis, according to flash estimates released by the Housing Board on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112306,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-launches-8170-flats-in-november-sales-exercise\/","url_meta":{"origin":113985,"position":3},"title":"HDB launches 8,170 flats in November sales exercise","date":"November 12, 2019","format":false,"excerpt":"\r This includes 4,571 BTO flats in Tengah, Ang Mo Kio and Tampines, as well as 3,599 flats under the Sale of Balance Flats scheme within mature and non-mature estates, like Bishan and Clementi. Image: HDB The Housing and Development Board (HDB) launched 8,170 flats for sale in the year\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114185,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-launches-3095-flats-in-feb-sales-exercise\/","url_meta":{"origin":113985,"position":4},"title":"HDB launches 3,095 flats in Feb sales exercise","date":"February 11, 2020","format":false,"excerpt":"\r The flats are located across two housing projects in Toa Payoh \u2013 in Kim Keat and one near Caldecott \u2013 as well as in another project in Sembawang. Photo: HDB The Housing and Development Board (HDB) launched 3,095 Build-To-Order (BTO) flats during the first sales exercise of the year.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35462,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-launches-10118-flats-in-november-sales-exercise\/","url_meta":{"origin":113985,"position":5},"title":"HDB launches 10,118 flats in November sales exercise","date":"November 23, 2016","format":false,"excerpt":"\r New HDB flats accounted for more than half of the units launched for sale.\u00a0 The Housing and Development Board (HDB) launched 10,118 flats for sale on Tuesday (22 November) in its largest sales exercise in 2016. Build-To-Order (BTO) flats accounted for more than half of the units launched for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113985"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=113985"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113985\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=113985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=113985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=113985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}