Properties’ prices and volume has been increasing every month despite Singapore’s GDP badly affected with many industries doing poorly. Prices of resale HDBs are inching up in tandem as well. There is a spiral effect the moment when a resale property is sold as the seller will become a either a buyer or tenant. As there is an increase in demand for BTOs and with lesser supply from HDBs, we saw more buyers turning to resale HDBs which have driven the prices upwards and buyers are willing to spend slight amount of COV to get their dersired unit. Similarly these HDB sellers will either get a replacement home, either a condo or new launch, and from there the spiral effect continues. We will see such phenomenon continues in the next 6-9 months. Forett at Bukit Timah is very close to achieving 50% despite having to launch less than 6 months.
Source: The Straits Times
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