Belgravia Ace Ang Mo Kio price

Belgravia Ace Ang Mo Kio price of a low-rise estate, is a nice choice for families who treasure privacy and convenience.

For the entire 2021 year, HDB resale prices spiked 12.5% y-o-y, clocking the same rate of growth as the year 2011, when prices climbed to 10.7% y-o-y.

HDB prices for resales grew in 3.2% q-o-q in 4Q2021 as compared to 2.9% q-o-q growth recorded during the preceding quarter. It was the seventh consecutive quarterly growth reported by the market.

Overall the overall results of the HDB resale industry was above expectations regarding price growth and the volume of sales according to Christine Sun, senior vice-president of research and analytics for OrangeTee & Tie.

“Prices are increasing because demand continues to outpace supply in several areas. In terms of demand delays in construction and the long times to complete new BTO flats may have led consumers to the second-hand marketplace,” says Sun.

Private homeowners made use of the lucrative private resale market in order to realize the potential value in their properties and then downgraded them in to housing for the public, increasing the number of HDB buyers.

The rising trend in resale prices has given numerous HDB flat owners a jolt after suffering a decline in flat resales values from 2013 and 2018. Wong Siew Ying, head of content and research of PropNex Realty.

“However this kind of double-digit price growth is not sustainable over the long haul. In the midst of the market’s growth however, we are aware that a record number of flats have been sold for more than $1 million in 2021. We anticipate the rate of HDB price increases for resales to slow down to somewhere between 6% to eight% in 2022, as new cooling measures will reduce the booming sentiment in the market.” Wong says. Wong.

Additionally, HDB has announced that it is planning to increase the number of new housing for the public over the next two years.

Sun believes that the latest property cool measures are likely to have a minimal effects on HDB marketplace for resales. “While the majority of buyers won’t be impacted by the reduction in LTV however, buyers could be more cautious in purchasing a home and may also use this chance to negotiate better rates. Certain sellers might begin to adjust their price expectations too,” she says.

The demand in the HDB secondary market is expected to remain strong this year due to the fact that delays to construction are likely to be a problem for some of the new housing developments in the public sector Sun. Sun.

“Most sellers aren’t looking to sell their homes or may be in financial trouble to lower prices significantly. Therefore, we expect that prices will remain on the rise in the coming year, however at a slower rate of 5 to eight%,” she says.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.