Properties transaction have been rising every month since we stem into phase 2 after circuit breaker. Landed and non-landed properties prices have inched up and causing spiral effects as home owners are buying downwards as some downgrade to smaller size houses or apartments due to old age and took the opportunity of the pandemic to sell of their property with a good price tag. HDBs likewise also saw a similar trending as more 1st time home buyers are not willing to wait for the longer completion period for BTOs due to covid. As HDB also cut down on supply of BTOs, we see an over-subscription for released BTOs and buyers switch to resales HDBs for those who couldn’t get their BTOs. As more launches will take place in 2021, we will see projects that launched in 2018 to gradually being able to clear their stock as buyers who need to move in within certain time-frame will choose project that will TOP earlier and also with more affordable price tag since land cost keeps increasing. Mayfair Modern will be an attractive investment as compared to the upcoming integrated development at Beauty World MRT.
Source: The Straits Time
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