Agent.sg / Property news / Jump in number of HDB resale flats sold in October

Jump in number of HDB resale flats sold in October

Fresh property news selection on November 08. 2019, Friday.

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There was a jump in the number of Housing Board resale flats sold last month, on the back of the higher grants and income ceilings for first-time buyers that took effect in September.

In all, 2,213 HDB resale flats changed hands last month, an 18 per cent increase from September, real estate portal SRX Property said yesterday. Compared with a year ago, the resale volume was also 10.6 per cent higher.

Analysts say that recent policy changes could have had an impact on the resale market.

In September, the Government announced a new Enhanced CPF Housing Grant (EHG) of up to $80,000, available to eligible first-time flat buyers regardless of whether they get a new or resale flat. There are also no restrictions on their choice of flat type and location.

ERA Realty's head of research and consultancy Nicholas Mak said: "Home buyers are probably capitalising on the (EHG) grant, as transaction volume increased in October. This figure is the highest since July last year, almost 21 per cent more than the 12-month average."

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HDB resale volume rose 18% to 2,213 in October


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