Property analysts expect the HDB resale market to "remain stable" this year, while private property prices are expected to increase at a steady rate.
Property analysts expect the HDB resale market to"remain stable" this year, while private property prices are expected to increase at a steady rate.
"In January 2024, the first wave of ex-private property owners who were observing the 15-month wait-out period to buy 5-room and larger flats entered the market," said Huttons' senior director of data analytics Lee Sze Teck. Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc , also observed the expiration of the wait-out period may have allowed some private property sellers to enter the HDB resale market and"possibly contributing to the observed increase in resale transactions and prices".
10,000 new homes to be built in Yishun; Gillman Barracks site may be used for residential developmentPrivate home prices in Singapore also rose 1.5 per cent in the first quarter of 2024, slower than the figure of 2.8 per cent in the previous quarter, according to flash estimates released by the Urban Redevelopment Authority on Monday.by about 20 per cent on a quarter-on-quarter basis and by about 16 per cent on a year-on-year basis in Q1.
However, the high interest rates in the resale and subsale market are causing some buyers to"pause and see if interest rates will ease", noted Mr Lee, leading to a decline in volume by almost 30 per cent in this quarter compared to the previous quarter in 2023. The prices of non-landed properties in the outside central region increased by 0.4 per cent compared with the 4.5 per cent increase in the previous quarter.
"This is so as the June BTO sales launch largely focuses on popular mature estates and it will be the final sales launch before the"There will be more mass market launches for the rest of 2024 and HDB upgraders might sell their flats so that they do not need to pay ABSD ," he added.
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