During the Q3 of 2020, there was a significant 1.4% increase q-o-q of HDB resale prices according to the board’s flash estimates.
Resale prices for HDB have continued to be atop the negative for the 5th consecutive quarter. This proves that the resale values for HDB have been upheld and that after its 6-year drop from 2013 to 2018, the HDB market has started to stabilize.
PropNex noted that since the first quarter of 2013, over a seven-year period, the increase seals the largest HDB quarterly hike price where the resale jumps up to 1.3%.
PROPERTY CHECK: The Landmark
As of this date, resale prices on HDB have generously jumped up to 1.7% against last year.
Wong Siew Ying, PropNex’s head of content and research, said that first-time purchasers might be able to obtain housing grants of up to $160,000. This will be comprised of Proximity Housing Grant, CPF Housing Grant and Enhanced CPF Housing Grant. These grants will aid funds for HDB resale flat purchases. She added that purchasers may opt to acquire resale flats and provide them with sufficient time while they wait for their Built-to-Order HDB unit, especially if they are in dire need of housing.
Presented with exceptionally modest housing options across the country, PropNex has been bullish when it comes to HDB resale demand in the market. In 2019, a new housing grant was announced which attained traction in the HDB resale market, mentioned Ying.