January 02,the famous Housing and Development Board or HDB divulged the 0.9 percent dropped resale prices over HDB units for the entire year of 2018.
During the last quarter of 2018, the prices for resale units plunged by 0.2 percent over the past three-month time.
It will be on January 25, 2019, the set release day of Resale Price Index (RPI) along with the comprehensive public housing information and data.
Despite the decreased of prices, ERA Realty, a property agency still have high hopes for demands HDB resale to be better this 2019.
This take place while the lease decay concern which was highlighted previous year had been solved with the implementation of the recent HIP program and VERS.
The introduction of government’s property cooling measures which greatly hit the private residential market are also considered as one of the factors that drives number of buyers over HDB resale market.
However the Lease Buyback Scheme was stretched more just to cover also the flat types beginning January 1st.
” Resale flats still the best option said the buyers. The highest amount of voucher legitimate buyers can avail is as high as $120,000 even up to $30,000 for a Proximity Housing Grant, $50,000 for a Family grant and $40,000 for Additional Housing Grant and the processing period was been cut to make it shorter and fast with the new existing resale portal,” told Eugene, the executive officer of ERA.
Apart from being the sole process inorder for buyers to acquire flat in their desired area, there is also the absence of income ceiling for the said buying resale units or flats.
” Accordingly this opened to a lavish million -dollar flats and most buyers are interested to pay huge dollars for those flats having special features and locations, as written in the report on Tong Bahru four-room flats breaching a million -dollar curb,” he added.
” But, these increased -priced deals remains being the exception rather than the standard. Most of resale HDB flats that were under transaction already are supported via valuation , and this lead to a secured, stable public property housing market.”
Along with it, Lim anticipates prices in HDB resale to go up marginally by at least one percent for entire year of 2019.
Meanwhile the HDB reiterated that it will introduce another set of new flats that totals to 15,000 all in all for 2019. The first ever Build-To-Order program in February will showcase of more or less 3,100 flats provided in Kallang Whampoa, Sengkang and Jurong West.