{"id":53585,"date":"2017-05-03T09:44:18","date_gmt":"2017-05-03T02:44:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-first-timers-turn-to-the-resale-market\/"},"modified":"2017-05-03T10:43:21","modified_gmt":"2017-05-03T03:43:21","slug":"more-first-timers-turn-to-the-resale-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-first-timers-turn-to-the-resale-market\/","title":{"rendered":"More first-timers turn to the resale market"},"content":{"rendered":"


\nLarger pool of flats in desirable locations attracts more first-time buyers to turn to the resale market.
\nDespite the top priority given to them for new flats, one in five first-time buyers of Housing Board homes preferred a resale unit over a Build-To-Order (BTO) unit last year, reported The Straits Times citing HDB data.
\nHDB figures showed that 3,441 Singaporean families purchased a resale flat with a housing grant in 2016, accounting for 19 percent of all flat acquisitions made by first-time buyers using government subsidies or grants. The other 14,273 opted for subsidised BTO units.
\nIn contrast, only nine percent or 1,980 families turned to the resale market in 2012.
\nMarket experts attribute the hike to the slide in prices over the past four years and the larger pool of flats in desirable locations.
\nCiting flats in Holland Drive and Pinnacle@Duxton in Tanjong Pagar, Ku Swee Yong, chief executive officer of International Property Advisor, said young families looking for \u201chomes in better locations now have good-quality stock to choose from\u201d.
\nIn concurring, Nicholas Mak, executive director of SLP International said: \u201cFirst-timers today are in a better state than their counterparts about seven years ago. Resale prices have softened, and there are more grants, so they feel more comfortable about buying a resale home.\u201d
\nAnd with the recently enhanced Central Provident Fund Housing Grant, in which buyers can get up to S$50,000 from S$30,000 previously, HDB expects more first-time buyers to look to the resale market.
\nHowever, it expects prices of resale flats to remain stable.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…More first-timers turn to the resale market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Larger pool of flats in desirable locations attracts more first-time buyers to turn to the...<\/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-53585","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-dWh","jetpack-related-posts":[{"id":49345,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/get-the-guru-view-hdb-resale-a-buyers-market\/","url_meta":{"origin":53585,"position":0},"title":"Get the Guru View: HDB resale – A buyer\u2019s market","date":"March 24, 2017","format":false,"excerpt":"\r Upcoming BTO launches could draw demand away from the HDB resale market. The HDB resale market has seen prices stay flat since Q2 2015. With an increase in the grants available for use, will this market start to see a pickup in 2017? We give you the Guru View.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/03\/Guru-View-HDB-Resale-Price-Index-and-Transcation-Volume.jpg?fit=792%2C442&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":113352,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-0-4-in-q4-2019\/","url_meta":{"origin":53585,"position":1},"title":"HDB resale prices up 0.4% in Q4 2019","date":"January 2, 2020","format":false,"excerpt":"\r As such, the HDB Resale Price Index (RPI), which measures overall price movements of resale HDB flats, is now 131.4.\u00a0 Resale prices of HDB flats have continued to climb in Q4 2019, raising by 0.4% from the 0.1% increase in Q3 2019, according to the latest HDB flash estimates.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2020\/01\/HDB-flash-estimates-Q4-2019.png?fit=600%2C343&ssl=1&resize=350%2C200","width":350,"height":200},"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":53585,"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":113092,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/up-to-17000-bto-flats-to-launch-next-year-lawrence-wong\/","url_meta":{"origin":53585,"position":3},"title":"Up to 17,000 BTO flats to launch next year: Lawrence Wong","date":"December 16, 2019","format":false,"excerpt":"\r This is to meet the additional demand for houses after key policy changes.\u00a0 National Development Minister Lawrence Wong revealed that HDB will be launching 16,000 to 17,000 Build-To-Order (BTO) flats next year to meet additional demand after the roll-out of key policy changes this year, reported The Straits Times.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122996,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/incomes-have-kept-pace-with-prices-of-new-hdb-units-resale-flats\/","url_meta":{"origin":53585,"position":4},"title":"Incomes have kept pace with prices of new HDB units, resale flats","date":"November 3, 2021","format":false,"excerpt":"\r HDB subsidies for new and resale flats keep public housing affordable; among resale flat buyers who have taken\u00a0up an HDB loan, the mortgage servicing ratio\u00a0has remained stable at 23%. New Housing and Development Board (HDB) units and resale flats continue to remain affordable as incomes of Singaporeans have generally\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/Colour-Scheme-HDB-e1479092279776.original.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":122853,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-bto-project-under-new-prime-housing-model-to-be-built-in-rochor\/","url_meta":{"origin":53585,"position":5},"title":"First BTO project under new prime housing model to be built in Rochor","date":"October 27, 2021","format":false,"excerpt":"\r The Rochor BTO project will have 960 units of\u00a0three-room and four-room flats, and 40 units of two-room rental flats. Source: HDB The first project under the new prime location public housing (PLH) model will be built at Rochor and launched at next month\u2019s Build-to-Order (BTO) exercise. 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