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.
Since the second quarter of 2020, it has also been the lowest level in the previous three times.
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 resale exclusive homes has been delayed due to the high borrowing costs at the moment, and as a result, this may have even accounted for the lower HDB volume, he said.
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.
Also, Mr. Lee said that as the HDB increased the supply of cottages with shorter waiting times, buyers were drawn to the BTO business. & nbsp,
Condos TO BE 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 numbers 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 keep a close eye on the housing require and keep up an ongoing supply line.” From 2021 to 2025, we plan to launch a full of 100,000 cottages, according to the statement.
With these debuts, according to Ms. Sun, some desire might be shifted to the BTO marketplace.
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.
She continued,” The closing times for many of these jobs may also be shortened.”
In the meantime, Mr. Lim anticipates that the BTO launches will keep the HDB resale marketplace stable. & nbsp,
As more sellers become aware of the current market conditions and perhaps realistically adjust their price expectations, he said,” This shift may prove useful for new homebuyers seeking their second house in the resale market.”