04 Dec '13, 11pm

Resale prices unlikely to be affected by reduced BTO supply

Resale prices unlikely to be affected by reduced BTO supply

Given the reduced demand in the property market in Singapore, decreasing the supply of Build-To-Order flats makes perfect sense. Experts said resale prices are unlikely to be affected now that pent up BTO demand has been addressed since the profile of buyers going for resale flats and BTO flats is generally different. Demand from first-timers is quite stabilized at the moment as BTO application rates for first-timers ranged from 0.7 to 2 times this year, down from a high of 5.3 in 2010. The past three years of higher BTO supply meant first-time buyers could get a new flat rather than turning to the resale market. Falling cash-over-valuation figures in the resale market is also a welcome sign of balance being restored in the real estate market. This factor in conjunction with cooling measures like stricter home loan rules helped alleviate demand for resale units. Resale pri...

Full article: http://www.iproperty.com.sg/news/7994/Resale-prices-unlik...

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