Buying property in Singapore is the largest expense anyone would make in their lifetime. Whether it's Build-To-Order (BTO), resale flat, condominium, or landed property, you'll expect to spend at least half a million dollars. It doesn't help that the pandemic sparked a jump in public and private housing prices. BTO flats faced the domino effect of Covid-induced delays. A usual...
Buying property in Singapore is the largest expense anyone would make in their lifetime. Whether it's Build-To-Order , resale flat, condominium, or landed property, you'll expect to spend at least half a million dollars. It doesn't help that the pandemic sparked a jump in public and private housing prices.
For homeowners-to-be, you'll want to keep your eyes on the HDB Resale Price Index . Through the RPI, you get a pulse on the resale market and movements to make sure you pay a fair price for the resale flat and identify opportunities to secure the best deals.The RPI is calculated based on the resale transactions of HDB flats and serves as a benchmark to gauge the general price movements in the HDB resale market in Singapore.
Post-pandemic, buyers now prefer larger flat types propping up prices. This quarter, price growth was driven largely by four-room and five-room HDB resale flat transactions. During Q2 2023 , 45.8per cent of the 5,969 transactions were four-room flats , and five-room flats made up 23.3 per cent of the overall transactions .
There's still some good news out of this. Thanks to the cooling measures, we are seeing a slowdown in transaction volume. The 10,000 HDB resale flats were sold in the first quarter of 2023, which is lower than the 12,000 units sold during the same period last year.
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