{"id":93025,"date":"2018-07-03T10:09:45","date_gmt":"2018-07-03T03:09:45","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-0-1-govt-to-offer-bto-flats-in-punggol-and-yishun\/"},"modified":"2018-07-03T11:02:56","modified_gmt":"2018-07-03T04:02:56","slug":"hdb-resale-prices-up-0-1-govt-to-offer-bto-flats-in-punggol-and-yishun","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-0-1-govt-to-offer-bto-flats-in-punggol-and-yishun\/","title":{"rendered":"HDB resale prices up 0.1%, govt to offer BTO flats in Punggol and Yishun"},"content":{"rendered":"


\nDemand for HDB resale flats is stronger due to interest from displaced en bloc owners and positive sentiment in the private residential market.\u00a0
\nPrices 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 Monday (2 July).
\n\u201cThis is an improvement from the 0.8 percent decrease seen in the preceding quarter,\u201d said ERA Realty\u2019s key executive officer Eugene Lim.
\nMore:\u00a0Are million-dollar HDB flats becoming the norm?
\nThe HDB resale price index also reversed the prior six straight quarterly drops, noted Christine Sun, research head at OrangeTee & Tie.
\n\u201cPrices continued to trend sideways, indicating that prices are stabilising and may rise slightly in the second half of this year, owing to the increased buying interest from displaced en bloc owners and spill-over positive buying sentiment from the private residential market,\u201d she said.
\n\u201cFurther, as HDB is going to reduce the supply of Build-To-Order (BTO) flats, the resale market could see more demand from younger couples in the coming months.\u201d
\nThe Housing Board announced on Monday that it will reduce the BTO supply slightly from 17,000 to about 16,000 units this year. For August, it plans to release another 4,300 BTO flats in Punggol and Yishun.
\nAccording to ERA\u2019s Lim, the issue on the declining leases of older resale HDB flats has been in the spotlight recently, and this may have softened demand and brought down prices.
\nHowever, newer HDB resale flats with exceptional attributes continue to command a premium, with some fetching over $1 million like a Queenstown HDB flat that was sold in June.
\n\u201cFor the same location, a comparable private property could cost about double the price, which could be the reason why some buyers are willing to fork out good money for these HDB flats,\u201d Lim explained.
\nIn addition, the government has introduced several measures in the past year to make HDB resale flats more attractive. For instance, eligible home buyers can get a maximum $120,000 in grants \u2013 up to $30,000 in Proximity Housing Grants, as much as $40,000 in Additional Housing Grants and up to $50,000 in Family Grants.
\n\u201cResale flats also remain the only way for buyers to pick a flat in their desired location, unlike BTO flats, where the location is dependent on HDB\u2019s sale launches and there is an element of chance involved in the buying process.
\n\u201cThere is also no income ceiling for buying resale flats if no grants are taken and if the buyer does not take a HDB loan,\u201d noted Lim, adding that the new resale portal has halved transaction processing time for such units.
\nAs such, resale flats are expected to remain in demand, particularly for those who are not eligible for new HDB flats or have urgent housing needs, said Lim. However, buyers are still price conscious, and through the new resale website they want to ensure they are getting the fair market value.
\n\u201cFor 2018, we are expecting resale HDB prices to stabilise. Any price increase or decrease is likely to be very moderate and would not exceed 1.5 percent for 2018,\u201d projected Lim.
\nFind HDB flats for sale or read our\u00a0HDB guides. Can you afford an HDB resale flat? Check your\u00a0affordability\u00a0now.\u00a0
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…HDB resale prices up 0.1%, govt to offer BTO flats in Punggol and Yishun<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Demand for HDB resale flats is stronger due to interest from displaced en bloc owners...<\/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-93025","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-ocp","jetpack-related-posts":[{"id":100644,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-dip-0-1-in-q3\/","url_meta":{"origin":93025,"position":0},"title":"HDB resale prices dip 0.1% in Q3","date":"October 29, 2018","format":false,"excerpt":"\r HDB resale prices have been lacklustre due to the large supply of unsold BTO flats, says one analyst. Despite a higher number of transactions, resale prices of HDB flats dipped by 0.1 percent in Q3 2018 on a quarterly basis, said the Housing and Development Board (HDB) on Friday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119976,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-3-1-in-q4-2020-5-in-2020\/","url_meta":{"origin":93025,"position":1},"title":"HDB resale prices up 3.1% in Q4 2020, 5% in 2020","date":"January 22, 2021","format":false,"excerpt":"\r For the whole of 2020, prices grew 5%, the steepest increase since Q4 2012 and higher than the 0.1% gain registered in 2019. Despite the difficult economic conditions, the HDB resale market remained in good shape, with prices rising for the third consecutive quarter by 3.1% in the fourth\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/Colour-Scheme-HDB-e1479092279776.original.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":113849,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-transaction-up-2-7-in-2019\/","url_meta":{"origin":93025,"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":84356,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-continue-to-fall-in-q1\/","url_meta":{"origin":93025,"position":3},"title":"HDB resale prices continue to fall in Q1","date":"April 2, 2018","format":false,"excerpt":"\r Resale flat prices have continued to fall from a peak in 2013. Resale HDB flat prices dipped by 0.8 percent quarter-on-quarter in Q1 2018, according to flash estimates released by the Housing and Development Board (HDB) on Monday (2 Apr). This is a bigger quarterly drop from the 0.5\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62058,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-flat-prices-down-0-1-in-q2\/","url_meta":{"origin":93025,"position":4},"title":"HDB resale flat prices down 0.1% in Q2","date":"July 28, 2017","format":false,"excerpt":"\r View of HDB flats in Toa Payoh. Prices of resale flats fell 0.1 percent in the second quarter of 2017 from the previous three-month period, according to the latest HDB Resale Price Index. \u00a0 Resale flat transactions rose 32.5 percent to 6,001 cases in Q2, from 4,530 cases in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95053,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-rise-for-the-first-time-in-nine-quarters\/","url_meta":{"origin":93025,"position":5},"title":"HDB resale prices rise for the first time in nine quarters","date":"July 30, 2018","format":false,"excerpt":"\r The latest round of property curbs is expected to make buyers turn to the HDB resale market, where properties are cheaper. 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