26 Dec '13, 9am

2014 likely quiet for HDB resale market - Property Auctions News, Property Investment | PropertyGuru

The HDB resale market is expected to slow down next year on the back of the government’s measures on permanent residents (PRs), according to analysts quoted in a media report. Newly-minted PRs now have to wait three years before they can purchase a resale flat . There was no such requirement previous to when this regulation came into effect on 27 August. The housing board revealed that PR households purchased an average of 323 units per month during the first eight months of the year. However, this fell to an average of 176 units per month since the introduction of the new ruling. “Based on these preliminary figures from the HDB, the drop in demand from PRs will reduce the (overall) demand for resale flats by about 10 percent in 2014,” said Nicholas Mak, Research Head at SLP International Property Consultants. Moreover, first-time buyers can easily purchase new flats curre...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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