21 Feb '17, 4am

Enhanced grants expected to lift resale HDB market

Enhanced grants expected to lift resale HDB market

The grant, targeted at the resale market, is timely as a large volume of BTO HDB units, totalling about 18,000, reached the end of their minimum occupation period (MOP) as at end-2016. This is 80 per cent higher than the number of units that reached MOP in 2015. Concurring, International Property Advisor key executive officer Ku Swee Yong noted that despite a recovery in resale transactions last year, the pace of sales was still slow for HDB upgraders who have to sell their existing flats within six months from collecting keys to their new ECs or HDB flats. "Still, a property measure coming in this form in the Budget is largely unexpected," he said. Mr Ku also foresees that there may be some cannibalisation of demand from first-timer families who are wavering between buying an EC or a resale HDB flat. As part of the Budget 2017 measures announced on Monday, the government ...

Full article: https://www.srx.com.sg/singapore-property-news/33012/enha...

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