In 3Q, prices rose 1.2% YoY.
According to Huttons, demand has shifted to the existing resale flats in mature estates where there are no restrictions on resale.
“The reclassification of flats to Prime and Plus may have a role to play in the spike in the number of million-dollar flat transactions in August. Buyers are willing to pay more to buy a flat in the mature estates with no restrictions,” added Huttons. OrangeTee, for its part, believes that the increase in both BTO and resale flat supply may push up prices “moderately for the rest of the year.”
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