Size FOR SALE
According to HDB, there were 6, 409 selling volumes in the second quarter through June 29 of this year. This was 4.6 % less than the same time last year.
Additionally, it is the lowest level since the fourth quarter of 2020 in the previous three years.
Eugene Lim, the chief executive officer of ERA Realty Network, stated that the most recent cooling measures put in place in April” may have caused some HDB householders to rethink their plans to switch to a private house.”
Additionally, the switch to selling private homes was delayed due to the high borrowing costs at the time, which may have even increased the volume of HDBs sold.
According to Lee Sze Teck, senior & nbsp, director of research at Huttons’ Asia, a price match between sellers and buyers also resulted in less transaction volume.
Moreover, according to Mr. Lee, the HDB increased the number of apartments with shorter wait times, luring buyers to the BTO industry. & nbsp,
Condos TO Get LAUNCHED AT 13, 000 BTO
Additionally, HDB announced that a total of 13, 000 BTO flats would be made available in the second half of this year, or roughly 31 % more than the 9, 923 products that were introduced during the first quarter. & nbsp,
As more task details are finalized closer to the start times, HDB said, the figures will be reviewed.
Cities and estates like Kallang, Choa Chu Kang, Queenstown, Bedok, and Bishan will see the debut of these apartments.
” HDB has increased the supply of BTO flats by 35 %, from 17, 100 in 2021, to 23, 200 in 20, and 23, 000, 2023, in order to meet the increased housing demand.” & nbsp,
” HDB will continue to keep a close eye on the housing demand and keep the supply network regular.” In the interim,” it said, we’re on record to start a total of 100,000 flats from 2021 to 2025.
With these debuts, according to Ms. Sun, some desire may be shifted to the BTO industry.
As HDB launches more cottages in older lands like Kallang, Whampoa, Queenstown, Bedok, and Bukit Merah, which are typically popular with customers, some first-time consumers may be enticed, she said.
Many of these tasks might also have shorter implementation times, she continued.
In the meantime, Mr. Lim anticipates that the HDB resale industry will remain stable as a result of the BTO launch. & nbsp,
As more sellers become aware of the current market conditions and perhaps change their price expectations realistically, he said,” This shift may prove useful for new homebuyers seeking their second home in the selling market.”