HDB resale market healthy but prices rising at slower pace
29 March 2008
No CommentHDB resale market healthy but prices rising at slower pace
Total sale prices likely to be steady or higher while upfront cash demands may continue to slide
By Joyce Teo, Property Correspondent
Resale prices of HDB flats are still rising – albeit at a slower rate than last year – as valuations have generally risen, property agents say. – ST PHOTO: NG SOR LUAN
WHILE quiet may prevail in the private homes market, the resale market for HDB flats offers another picture – one filled with steady activities.
Still, a number of potential HDB resale flat buyers are kept out of the market by the high upfront cash sums that some sellers demand.
These cash sums are on top of the valuation price of a flat and can be paid only in cash.
Last year, when HDB resale prices rose 17.5 per cent in line with the private property boom, many sellers rode on the buying wave and started asking for cash- over-valuation sums ranging from $50,000 to more than $100,000.
For those who are holding off their HDB purchases for a lower price, property agents say cash- over-valuation amounts could continue to slide. But HDB resale flat prices are unlikely to tumble in the foreseeable future, they say.
‘The HDB market is still very healthy,’ said Mr Chris Koh, director of Dennis Wee Properties.
Resale prices are still rising – albeit at a slower rate than last year – as valuations have generally risen, property agents say.
Even if the cash-over-valuations are slightly lower than late last year, the total resale price will still be steady or higher.
Singapore Property – Buy, Sell, Rent and Invest
Jerry Hansin (+65)9027 5537
email: jerry@assetomgt.com
website: www.assetomgt.com
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