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About 2,320 flats will become eligible for resale in the next three months. The volume of HDB flat resale expanded 18% MoM to 2,213 units in October, according to the SRX Property Price Index. On a YoY basis, volume rose 10.6%. OrangeTee & Tie noted this to be the highest October sales recorded in four years.
Almost half or 40.8% of the volume came from 4-room flats, followed by 25.4% from 3-room, 24.3% from 5-room and 7.5% from executive. The remaining share came from 2-room and multi-gen flats.
Also read: HDB resale prices down 0.2% in September
According to OrangeTee, the rise in demand to likely came from the introduction of policies, including the enhancement of grants for first-time buyers and raising the income ceiling for families buying resale flats with a CPF Housing Grant on the open market.
“Some policies that were rolled out in the second quarter of this year may now be taking effect, as it takes time for buyers to be aware of the new policies and assess their eligibility in using the new schemes,” OrangeTee wrote.
A growth in the supply of flats reaching the 5-year minimum occupation period (MOP) also likely added to the volume. About 2,320 flats will reach MOP in the next three months, when they will become eligible to join the HDB resale market.
Real estate related news stories from Singapore
- SingHaiyi sinks into the red with Q2 net loss of S$4.6m
- GIC buys tallest building in Beijing's Lize financial district
- Depreciation for resales of old and new HDB flats slowed down in Q3: report
- Chart of the Day: HDB rents down 0.4% to 117.7 in Q3
- ARA H-Trust buys three US Marriott hotels for $114m
Asian property news round up
- WeWork weighs giving up office space in at least six HK locations
- Hongkongers to get equal rights in property purchases in Guangdong-Hong Kong-Macau Greater Bay Area
- Commentary: Have Hong Kong's bloated property giants had a change of heart?
- China’s Huazhu Hotels Buys German Hospitality Group for $802M
- Hong Kong Property Agencies Cut Staff as Deals Plunge and More Asia Real Estate Headlines
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