SINGAPORE: More than 5, 500 Sale of Balance Flats ( SBF ) units  , will be offered in February 2025, the , Housing and Development Board ( HDB) said on Friday ( Oct 25 ).
According to HDB, this SBF training is the largest, with approximately four in ten completed products, while the remaining products will be finished over the course of 2025 to 2028.
There will be more than 10, 000 new flats for sale next February, including , about 5, 000 Build-to-Order ( BTO ) flats in Kallang-Whampoa, Queenstown, Woodlands and Yishun.
When the sales training is conducted, more information about the SBF and BTO condos on sell will be made available.
Selling Costs
In contrast to the 2.3 % increase seen in the previous quarter, HDB resale flat prices increased by 2.7 % in the third quarter of 2024.  ,
The Resale Price Index ( RPI), which , reflects general price movements in the resale market, was 192.9 for the third quarter, up from 187.9 in the previous quarter, according to data released by HDB.
Selling deals also rose by 10.7 per share, from 7, 352 circumstances in Q2 to 8, 142 circumstances in Q3.
According to HDB, the rise in third-quarter resale prices and volumes was “driven by a strong broad-based demand, as well as some supply tightness in the market, with fewer new flats meeting the minimum occupation period ( MOP) in 2024 as opposed to 2023.”
Selling deals increased by 21.6 % in the second quarter of 2024 compared to the same period in 2023.
HDB added that only a small portion of total sale transactions were made up of Q3 selling transactions that had passed the million-dollar level.
Ms Christine Sun, chief scientist and planner at OrangeTee, noted the , 2.7 per cent number in the second quarter of 2024 represented , the fastest growth rate in prices since the next quarter of 2022, when prices rose by 2.8 per cent.
” The strong housing supply can be credited with the recent rise in housing costs. The number of condos obtaining the MOP dropped dramatically by nearly 50 per share, from 53, 902 products in 2021 and 2022 to 27, 501 products from 2023 to 2024″, she said.
Mohan Sandrasegeran, SRI’s head of research and information analytics, mainly attributed the rise in Q3 resale prices to a rising number of transactions involving larger flat types, especially 4- and 5-room flats.
He noted that the demand for these flats has steadily increased, and that” as buyers extremely favored these larger models, their higher resale values probably played a major role in pushing up general market prices.”
Growing need for newer condos has also contributed to the overall value increase,  , Mr Sandrasegeran said.
” Cottages with leases commencing from 2013 forward have seen higher cost increases because of their newer years and better state, which continue to prompt a price premium,” he said.
In 3Q 2024,” the combined effects of increased need for larger houses and the rising price of newer flats boosted selling prices.”
On the , 8, 142 selling purchase instances recorded in the second quarter of 2024, Ms Sun noted that” this is the highest monthly profits since 8, 433 units were sold in Q3 2021″.
” As exclusive property prices remain high, the increased need could be fueled by more people upgrading from smaller selling apartments to larger people,” she continued.
More affordable HDB selling flats may have been chosen by more secret home downgraders as well because of their affordability.
The increase in transaction level, according to Mr. Eugene Lim, senior executive agent at ERA Singapore, is “likely attributed to some customers shifting to the sale HDB business.”
These customers include June BTO candidates who were fruitless, those who sought centrally-located apartments without new limitations, and some HDB upgraders who were priced out of the private sector, he said.
” In contrast, the sale restrictions on BTO condos have been updated, which may have discouraged some owners from purchasing a Prime or Plus BTO level. These customers may have chosen to provide the resale industry instead”, Mr Lim added.