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Looming supply woes

Looming supply woes

Prices to drop by 12-15%. According to PropNex, over the next three years, 80,000 new BTO flats will be completed and keys handed over to buyers. HDB will also launch a total of 24,300 BTO flats in 2014 – this is just slightly lower than last year’s supply of 25,100 units. And according to Minister Khaw, 18,000 households in the next 3 years will be moving to a BTO flat, thus they are required to sell off their existing flat within…

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New valuation rule makes HDB homebuyers more vulnerable

New valuation rule makes HDB homebuyers more vulnerable

Homebuyers may end up paying more cash. The Ministry of National Development, in hopes of improving the longer-term real estate market stability, has introduced a new valuation rule which PropNex believes will put HDB homebuyers in a more vulnerable position by possibly asking them to shell out more cash. This effectively makes homebuyers more cautious when submittin offer prices. HDB will only accept valuation requests from resale flat buyers (or their appointed salesperson), after the buyers have been granted an Option…

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Private residential resale volume crashes in May

Private residential resale volume crashes in May

Prices hit new low since December 2012. According to a report dated on June 2014, by the Singapore Real Estate Exchange revealed that only an estimated 421 private residential resale transactions were registered in the month of May. This shows a 42.6% drop in resale volume compared to 734 units resold in May 2013. On a month-on-month basis, resale volume registered a 7.5% decrease. Overall resale prices of non-landed private homes slipped also slipped 0.3% in the past month, remaining a…

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