New Reporter
05-11-21, 11:45
HDB owners’ dilemma: To upgrade or not to upgrade
EdgeProp Singapore
November 5, 2021
The star performer in Singapore’s housing market this year has been HDB public housing flats, where four in five Singaporeans live, of which 90% own their homes.
In 3Q2021, the HDB resale price index chalked up a 2.9% q-o-q growth, marking its ninth quarterly increase. The index has surged to 150.6, surpassing the previous peak of 149.4 registered in 2Q2013. Based on the index, HDB resale prices have increased about 15% since 3Q2019, says Nicholas Mak, head of research at ERA Realty. He was speaking at the ERA-EdgeProp webinar on Nov 1, where the theme was: “Does it make sense to upgrade now for the future?”
According to Mak, a major contributing factor to soaring HDB resale prices is the supply chain problems and construction delays due to the pandemic. The delays in the construction of HDB Build-To-Order (BTO) flats have diverted some first-time home buyers to the HDB resale market, he says.
https://i.imgur.com/z4qCcJN.png
Read more at: https://www.edgeprop.sg/property-news/hdb-owners%E2%80%99-dilemma-upgrade-or-not-upgrade
EdgeProp Singapore
November 5, 2021
The star performer in Singapore’s housing market this year has been HDB public housing flats, where four in five Singaporeans live, of which 90% own their homes.
In 3Q2021, the HDB resale price index chalked up a 2.9% q-o-q growth, marking its ninth quarterly increase. The index has surged to 150.6, surpassing the previous peak of 149.4 registered in 2Q2013. Based on the index, HDB resale prices have increased about 15% since 3Q2019, says Nicholas Mak, head of research at ERA Realty. He was speaking at the ERA-EdgeProp webinar on Nov 1, where the theme was: “Does it make sense to upgrade now for the future?”
According to Mak, a major contributing factor to soaring HDB resale prices is the supply chain problems and construction delays due to the pandemic. The delays in the construction of HDB Build-To-Order (BTO) flats have diverted some first-time home buyers to the HDB resale market, he says.
https://i.imgur.com/z4qCcJN.png
Read more at: https://www.edgeprop.sg/property-news/hdb-owners%E2%80%99-dilemma-upgrade-or-not-upgrade