THE number of Housing Board resale flats that changed hands in the second quarter of 2019 grew nearly 30 per cent as compared with the first three months of the year, latest public housing figures show.
Ms Christine Sun, head of research and consultancy at OrangeTee & Tie, said this was the first increase in sales volume since July last year when cooling measures were implemented, and described it as giving the HDB resale market a"new lease of life".
"Some potential buyers who desire to live near their parents in mature estates may now be able to obtain a housing loan or to fully utilise their CPF to buy an older flat in the vicinity under the new regulation," she said, adding that the changes would allow the age of the buyer to be taken into consideration with the balance lease of the flat.
"Some may regard older flats as affordable given their low price quantum and large living spaces, and they get to keep a sizeable balance amount of their sales proceeds for retirement or reinvestment," she added. Ms Sun said that HDB resale prices have declined at a marginally slower pace of 0.2 per cent in the latest quarter, as compared to the 0.3 per cent dip in the previous quarter, due to the improving sentiment and revival of buying interest for older flats.
As at June 30, there were 58,528 flats being rented out, an increase of 1.3 per cent over the 57,764 in the first quarter of this year.This was followed closely by five-room units in Bukit Merah at S$2,730, and four-room flats in the central at S$2,700.
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