{"id":9516,"date":"2020-10-01T15:29:59","date_gmt":"2020-10-01T08:29:59","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=9516"},"modified":"2021-06-04T15:42:53","modified_gmt":"2021-06-04T08:42:53","slug":"hdb-upgraders-in-singapore-to-reinforce-current-surge-in-condo-sales","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/hdb-upgraders-in-singapore-to-reinforce-current-surge-in-condo-sales\/","title":{"rendered":"HDB upgraders in Singapore to reinforce current surge in condo sales"},"content":{"rendered":"

From January up\u00a0<\/span><\/span>to<\/span><\/span>\u00a0end of September, DBS reports that around 7,600 private residen<\/span><\/span>tial<\/span><\/span>\u00a0units were sold<\/span><\/span>\u00a0across the c<\/span><\/span>ity-state<\/span><\/span>\u00a0<\/span><\/p>\n

\"\"
An HDB featured the country flag outside their homes to celebrate the National Day. Hit1912\/Shutterstock<\/figcaption><\/figure>\n

According to a report published by DBS Group Research, <\/span>o<\/span>wners of\u00a0<\/span>Housing Development Board\u00a0(HDB) flats<\/span>, which<\/span>\u00a0are subsidised public housing for Singaporeans<\/span>,\u00a0<\/span>will help sustain the\u00a0<\/span>healthy\u00a0<\/span>momentum of condo sales as they<\/span>\u00a0continue to recycle their flats into private homes,<\/span>\u00a0<\/span>reported\u00a0<\/span>The Business Times<\/span><\/a>.<\/span>\u00a0<\/span><\/p>\n

The research revealed that <\/span>Singaporeans\u00a0<\/span>have\u00a0<\/span>steered the sales volume\u00a0<\/span>up\u00a0<\/span>for private residences, which\u00a0<\/span>eventually<\/span>\u00a0<\/span>tallied\u00a0<\/span>to<\/span>\u00a0a<\/span>pproximately\u00a0<\/span>7,600 units<\/span>\u00a0sold<\/span>\u00a0in the year to date, a seven percent increase from a year before.<\/span>\u00a0<\/span><\/p>\n

Analysts Rachel and Derek Tan of DBS Group explained that this growth indicated <\/span>a\u00a0<\/span>stab<\/span>le demand for private homes even\u00a0<\/span>with the ordeal brought by the pandemic<\/span>.<\/span>\u00a0<\/span><\/p>\n

More: Is Singapore still a safe haven during the pandemic?<\/strong><\/a><\/p>\n

By end of 2020, t<\/span>hey<\/span> predict the number of sold units to reach or exceed the 10,000 mark<\/span>, which will surpass the 2019 sales volume if momentum remains steady.<\/span>\u00a0<\/span><\/p>\n

Among the possible reasons for the strong sales volume<\/span>, which could have also incited demand from HDB upgraders<\/span>,<\/span>\u00a0<\/span>ar<\/span>e<\/span>\u00a0<\/span>pent-up demand,\u00a0<\/span>low-interest rates<\/span>\u00a0and<\/span>\u00a0<\/span>sticky prices.<\/span>\u00a0<\/span><\/p>\n

Moreover, the sales growth also<\/span> suggested that with <\/span>the unemployment risk for\u00a0<\/span>Singaporean buyers, most are either <\/span>\u201cstill very cash rich\u201d or are in a manageable situation, which can bode well for the future of Singapore property market.<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

From January up to September, DBS reports that around 7,600 private residential units were sold across the city-state <\/p>\n","protected":false},"author":9,"featured_media":20754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[222,528,644,110],"class_list":["post-9516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-hdb","tag-market-update","tag-private-residential","tag-singapore","news_country-singapore","news_author-property-report"],"acf":[],"yoast_head":"\nHDB upgraders in Singapore to reinforce current surge in condo sales | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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