{"id":114792,"date":"2020-03-09T09:38:18","date_gmt":"2020-03-09T02:38:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/policy-changes-on-rof-unwed-parents-wont-have-a-huge-impact-on-hdb-resale-prices-experts\/"},"modified":"2020-03-09T10:04:05","modified_gmt":"2020-03-09T03:04:05","slug":"policy-changes-on-rof-unwed-parents-wont-have-a-huge-impact-on-hdb-resale-prices-experts","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/policy-changes-on-rof-unwed-parents-wont-have-a-huge-impact-on-hdb-resale-prices-experts\/","title":{"rendered":"Policy changes on ROF, unwed parents won't have a huge impact on HDB resale prices: experts"},"content":{"rendered":"


\nAnalysts don\u2019t expect the policy changes to significantly affect the HDB resale market due to the limited number of unwed parents in Singapore as well as the unfavourable HDB flats available for selection.\u00a0
\nAnalysts expect the government\u2019s decision to scrap the Re-Offer of Balance Flats (ROF) exercise as well as allow more unwed parents to purchase public housing flats to have minimal impact on resale Housing and Development Board (HDB) flats\u2019 prices, reported Today Online.
\nThis comes as Singapore has a relatively small number of unwed parents while unsold HDB units are mostly unpopular among buyers.
\nDuring the debate on the Ministry of National Development\u2019s (MND) budget, National Development Minister Lawrence Wong announced that the ROF exercise will be discontinued, which means unselected HDB flats at the Sale of Balance Flats (SBF) exercises will be directly offered for booking by the public.
\nRelated:\u00a0What Do You Need to Know About HDB\u2019s ROF Scheme
\nWhile the ROF\u2019s removal will enable prospective house buyers to acquire their flats faster, it was not the government\u2019s intention to create another type of demand, noted Christine Sun, Head of Research and Consultancy at OrangeTee.
\n\u201cIt\u2019s not as if because of this policy change, people will rush to buy,\u201d she said.
\nThat\u2019s because the units are likely not \u201cchoice units\u201d, explained Nicholas Mak, Head of Research and Consultancy at ERA, adding that the units are typically located on the second-floor units, \u201cor the orientation is not attractive, or it faces the afternoon sun or the multi-storey car park\u201d.
\nAccording to him, the policy\u2019s intention is to sell off Build-to-Order (BTO) flats that have been unsold for the past few years.
\n\u201cHDB flats\u2019 lease is for 99 years. They probably do not want to keep it vacant for too long,\u201d said Mak.
\nMeanwhile, analysts lauded MND\u2019s move to allow unwed parents aged 21 and above to purchase a new two-room or three-room flats within non-mature estates as it would be helpful for those who have fallen through the cracks.
\nHowever, they do not expect the policy change to significantly affect the HDB resale market due to the limited number of unwed parents in Singapore.
\nRead:\u00a0Singaporeans are optimistic with the current real estate market: PropertyGuru Study
\nOnly those aged 35 and above were previously allowed to purchase a resale flat as a single person.
\n\u201cWe have to see how many unwed parents from disadvantaged backgrounds previously had to turn to resale, but now they can find BTO flats they want. That might make a slight decrease in demand in the resale market. But I don\u2019t think it\u2019s highly significant,\u201d said Mak.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Policy changes on ROF, unwed parents won’t have a huge impact on HDB resale prices: experts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts don\u2019t expect the policy changes to significantly affect the HDB resale market due to...<\/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-114792","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-tRu","jetpack-related-posts":[{"id":114728,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-scrap-re-offer-of-balance-flats-exercise\/","url_meta":{"origin":114792,"position":0},"title":"HDB to scrap Re-Offer of Balance Flats exercise","date":"March 5, 2020","format":false,"excerpt":"\r The change is part of the various measures unveiled by Wong to make housing more accessible as well as to better support Singaporeans\u2019 diverse housing needs. Homebuyers can look forward to faster access to public housing as the Housing and Development Board (HDB) will do away with the Re-Offer\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108612,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-continue-to-fall-in-q2\/","url_meta":{"origin":114792,"position":1},"title":"HDB Resale Prices Continue To Fall In Q2","date":"July 2, 2019","format":false,"excerpt":"\r Resale prices of Housing and Development Board (HDB) flats continued its downward trend, falling 0.2 percent in the second quarter of 2019, revealed flash estimates from the HDB. Providing information on the general price movements within the resale public housing, the resale price index (RPI) fell to 130.8 in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113849,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-transaction-up-2-7-in-2019\/","url_meta":{"origin":114792,"position":2},"title":"HDB resale transaction up 2.7% in 2019","date":"January 24, 2020","format":false,"excerpt":"\r Resale flat prices also rose 0.5% quarter-on-quarter.\u00a0 There were 23,714 resale flat transactions in 2019, the highest in 7 years. This figure is also 2.7% higher compared to 2018, where there were 23,099 transactions, based on HDB\u2019s Q4 2019 public housing data.\u00a0 On a quarterly basis, resale transactions increased\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":80973,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-re-offer-of-balance-flats-exercise-sees-robust-take-up\/","url_meta":{"origin":114792,"position":3},"title":"First Re-Offer of Balance Flats exercise sees robust take up","date":"February 26, 2018","format":false,"excerpt":"\r The HDB scheme aims to help young couples acquire their first home more quickly. The first Re-Offer of Balance Flats (ROF) exercise held last August witnessed a strong take up rate of 93 percent, reported Channel NewsAsia citing the Housing and Development Board (HDB). Out of the 1,394 flats\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96854,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-5000-flats-offered-in-hdbs-august-sales-exercise\/","url_meta":{"origin":114792,"position":4},"title":"Over 5,000 flats offered in HDB\u2019s August sales exercise","date":"August 29, 2018","format":false,"excerpt":"\r The Housing and Development Board (HDB) has launched 5,101 flats for sale under the August 2018 Build-To-Order (BTO) and Re-Offer of Balance Flats (ROF) exercise. \u00a0The 4,375 BTO units on offer are spread across four projects in Punggol and Yishun, said the HDB in a release on Tuesday (28\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103937,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3739-flats-launched-in-first-hdb-sales-exercise-of-2019\/","url_meta":{"origin":114792,"position":5},"title":"3,739 flats launched in first HDB sales exercise of 2019","date":"February 13, 2019","format":false,"excerpt":"\r Artist\u2019s impression of the Towner Crest BTO project in Kallang Whampoa. Source: HDB The Housing and Development Board (HDB) on Tuesday (12 Feb) launched 3,739 flats for sale in this year\u2019s first Build-To-Order (BTO) and Re-Offer of Balance Flats (ROF) exercise. Of these, 3,162 BTO flats will be spread\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\/114792"}],"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=114792"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/114792\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=114792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=114792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=114792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}