Homebuyers turn to resale market amid fewer BTO launches

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pemResale prices in April were up 0.9% MoM and 6% YoY. /em/p pProperty analysts said a lower volume of build-to-order (BTO) flat launches may have pushed homebuyers to the secondary market, contributing to the price increase of Housing and Development Board (HDB) resale flats in April.

Property analysts said a lower volume of build-to-order flat launches may have pushed homebuyers to the secondary market, contributing to the price increase of Housing and Development Board resale flats in April.

Higher grants made available to first-time buyers also lured people in to the secondary market with the perks making it more affordable and accessible to purchase a resale flat, she said. Data from 99.co and SRX showed HDB resale prices went up 0.9% month-on-month and 6% year-on-year. This followed the increased activity in the HDB resale segment, with the volume of resales rising 16% MoM and 9% YoY in April.Wong Siew Ying, PropNex’s research and content head, said the rebound in resale transactions also helped boost prices, with the majority or 62% of the activity concentrated in non-mature towns, led by Woodlands and Jurong West.

“In the next few months, the HDB resale market may see more transactions,” Yip said. “Huttons now estimate HDB resale volume to be between 26,000 to 28,000 flats compared to 25,000 to 27,000 previously.”

 

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