Two reasons behind rebound in HDB resale flat market in March

Property experts attributed the rebound to holidays and government grants.

The HDB resale flat market reported an increase in March, with a 23.7% month-on-month increase in resale volume to 2,287 units from 1,849 units in February.

The first reason behind this, property experts, PropNex and OrangeTee said, was from the government's CPF housing grant that was declared during the budget.

"Some of our agents have earlier indicated that they have seen an increase in inquiries following the Budget announcement," Wong Siew Ying, Head of Research and Content at PropNex, said.

"The increased demand pushed prices higher last month, climbing slightly by 0.5% month-on-month. Prices have also rebounded across most flat types except three-room flats," Christine Sun, head of research for OrangeTee, said.

The second reason, Mark Yip, CEO of Huttons Asia, said, was the increase in viewings and transaction activities after the seasonal lull.

"Whilst the increase in housing grants on Feb 14 may have diverted some demand from the BTO market to the resale market, more buyers are resisting paying a COV as they find HDB resale prices to be high. That may have tempered the increase in HDB resale prices," Yip also noted.

Follow the link s for more news on

Housing and Development Board

Huttons Asia

OrangeTee

PropNex

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia