Read related story: Mixed-Use Four-Storey Property At Riv Valley Road On Purchase For 24mil
HDB resale prices have climbed 1.4% q-o-q in 3Q2020, dependent on flash quotes by the plank.
The growth marks the biggest quarterly cost hike more than seven years because 1Q2013, when HDB resale prices rose by 1.3%, notes PropNex.
The cost profit in 3Q2020 is also the fifth successive quarter when HDB resale prices remained above the negative land, providing additional proof that the HDB resale values have prevailed, which the marketplace has begun to stabilise following six decades of decrease in 2013 to 2018, states PropNex.
Year-to-date, HDB resale costs have risen by 1.7% when compared with the end of 2019.
PropNex is currently on demand for the HDB resale market, since it poses one of the most affordable housing choices in Singapore. “The new home grant declared in September 2019 has gained traction with buyers and also [propped-up requirement in] that the HDB resale market,” says Wong Siew Ying, head of content and research at PropNex.
Additionally, some buyers who have much more urgent housing needs might elect for resale apartments, given the more waiting period for the conclusion of several Build-to-Order HDB jobs,” she notes.
PropNex jobs that HDB resale costs may possibly rise by 2.5% to 3% to the whole of 2020.