Private home prices and rents in Singapore experienced a notable surge in the third quarter of 2022, signaling a robust property market. Conversely, HDB resale prices saw a moderation in their growth during the same period. These developments shed light on the dynamic state of Singapore’s real estate sector amidst changing economic conditions.
In a surprising turn of events, new private home sales plunged by a staggering 34.6% in December 2022, revealing a slowdown in the property market. However, there was a silver lining as HDB completed the most flats in five years, suggesting a promising outlook for public housing. Stay informed with more updates on the real estate landscape.
In a bid to address the pressing demand for housing in Singapore, the government is implementing measures to increase the supply of private homes and shorten the waiting time for Build-To-Order (BTO) flats offered by the Housing Development Board (HDB). These initiatives aim to alleviate the housing crunch and cater to the evolving needs of Singaporeans. Stay tuned for further updates on this progressive move by the government.
On 24 June 2023, eager homebuyers flocked to witness the grand preview of The Myst and Lendor Hills Residences. Showcasing luxurious amenities and exquisite designs, these developments promise the epitome of modern living. Meanwhile, in an unprecedented transaction, a Tiong Bahru HDB resale flat was recently sold for a staggering $1.5 million, setting a new record in the market. Stay updated with these latest real estate ventures and more.
The Housing and Development Board (HDB) has initiated an investigation into the sale of supposedly “vacant” Build-To-Order (BTO) flats on the open market. In other news, Sloane Residences has successfully obtained its Temporary Occupation Permit (TOP) and has already sold nearly 90% of its units.
The iconic Singapore Turf Club will soon make way for public housing, as the government announces plans for its redevelopment. In addition, the Housing and Development Board (HDB) has extended the sales deadlines to May 2023, providing relief for potential buyers affected by the COVID-19 pandemic and market uncertainties. Stay tuned for further updates on these significant developments.
Blossoms By The Park, a prominent residential project, has successfully sold over 70% of its units, signifying a strong demand for upscale housing. Moreover, HDB has introduced the HDB Flat Eligibility (HFE) letter, ensuring transparency and eligibility criteria for prospective homeowners. These developments indicate a promising market outlook for both the private and public housing sectors.
BTO applications set to decline in August 2023, raising concerns among Tampines BTO residents about “spooky” blocks. The upcoming launch will offer 5,200 to 6,200 flats across 5 estates including Bukit Merah and Choa Chu Kang.[1]
In a recent article titled “Some Condos Offer Discounts, 150 HDB Flat Owners Caught Buying Private Homes Within MOP, and More,” discover the enticing discounts provided by certain condominiums and the controversy surrounding 150 HDB flat owners who purchased private properties before their Minimum Occupation Period ended. Stay informed with the latest real estate news. [[1](https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/acquiring-private-property)]
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