186 views
Photo by Steven HWG on Unsplash

What pushed demand for HDB resale flats up in September?

HDB resale volume rose 11.4% MoM to 2,589 flats. 

With the end of the hungry month, buyers also returned to the market, pushing sale transactions up in September. 

HDB resale volume rose 11.4% MoM to 2,589 flats last month.

To add, OrangeTee said many applicants who participated in the August BTO sales launches were securing a flat.

"For that sales launch, there were 34,602 applicants for 4,175 3-room and bigger BTO flats," OrangeTee said.

"The unsuccessful applicants, especially second-timers,  probably did not want to wait for subsequent launches and turned to the resale market. They may feel that they may not have a high chance of securing a unit in popular areas," the expert added.

OrangeTee said buyers probably also returned to the HDB resale market due to median prices of new condominiums in the suburbs reaching new highs of $2,000 psf.

Huttons, for its part, said the uptick in sales was likely due to higher interest rates.

"The higher interest rates reduced the budget for some buyers and they went for HDB flats in the non-mature estates. This pushed up the proportion of flats sold in the non-mature estates to 60% in September," Huttons said.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Here’s what an advanced security firm looks like
AETOS offers training courses on security, technology, and facilities management. 
Why long-term investments are key to surviving inflation
BetterTradeOff CEO Laurent Bertrand recommends investing in alternative asset classes.
What hinders manufacturing firms from lowering their carbon footprint
Chevron Singapore Country Chairman Law Tat Win said the right policies and partnerships are needed for a cleaner energy shift.
Manufacturing