Now may be the best time to buy a HDB resale flat – here’s why
Thinking of buying a Housing and Development Board (HDB) resale flat? Taking a look at what's currently happening in the resale flat market might help with the conclusion making.
The rental book of HDB resale flats rose past 26.1 per cent concluding month, as prices roughshod. In fact, resale apartment volumes are the highest since August last twelvemonth.
This March saw one,657 HDB resale transactions, upwardly from the 1,314 units sold in February. Some might contend the increase could exist attributed to seasonal reasons– February tends to be slower because of Chinese New year's day. But there may be more to that.
READ: New launch vs resale condo: Which is a better investment property?
Get-go, the numbers are significant: last month'southward resale volume was 12.7 per cent lower, with 1,897 HDB units transacted at the same time last year. As a longer term trend, HDB resale volume rose 58.7 per cent in March final yr, and 75.4 per cent in March 2017.
There are other factors that are driving resale volumes.
At that place will be only i Executive Condominium (EC) launch this year at Sumang Walk. Conversely, a larger number of flats are nearing their Minimum Occupancy Period (MOP), which will place more than resale options on the marketplace.
More significantly, HDB resale prices take been falling for five consecutive years. As prices fall and transaction volume rises, we seem to be reaching an inflection bespeak in the market place.
READ: 5 common mistakes Singaporeans brand when upgrading to a condominium
Resale prices have already edged up 0.2 per cent final month. Prices of 3-bedroom HDB flats rose by 0.8 per cent, and executive apartment prices rose past 0.iv per cent. In addition, a reduction in the Loan To Value Ratio (LTV) from the previous cooling measures limit bank loans to 75 per cent of the property price or valuation, whichever is lower. But HDB loans can still provide an LTV of 90 per cent. This translates to a smaller cash outlay, and can make resale a more attractive choice compared to EC. Especially since HDB loans cannot exist used for ECs.
In short, a combination of affordability – along with a wider range of options – make resale flats an ideal choice for the average home possessor this twelvemonth.
This commodity commencement appeared on 99.co.
quintanarhasky1983.blogspot.com
Source: https://cnalifestyle.channelnewsasia.com/entertainment/reasons-why-now-may-be-the-best-time-to-buy-a-hdb-resale-flat-244621
0 Response to "Now may be the best time to buy a HDB resale flat – here’s why"
Post a Comment