Support My Efforts By Visiting The Advertisers


This is a personal blog. The opinions expressed here represent my own, not those of my employer and is not intended to malign any religion, ethnic group, club, organization, company, or individual.

HDB to build more new flats

>> Monday, July 26, 2010

With HDB resale flat prices hitting new highs recently, causing cash-over valuation (COV) to go up, Mr Mah made the promise to push out enough flats for first-time home buyers.

His advice for them is to go for new flats, where there is no COV.

"What HDB is going to do is to build more new flats for first-timers, so this will help take care of the first-timer market, and that will help to reduce some pressure on the resale flat market. So over time, the resale flat market will stabilise. I think at this point in time, there is still an imbalance," said Mr Mah.

"It is the second-timers, upgraders and downgraders who have to go into the secondary resale flat market," Mr Mah said.

He continued: "If you are a first-timer buyer, there's more than enough flats for you. But if you are a second-timer, obviously you have to compete in the market with the first-timers and others.

"This equilibrium in the prices will be reached at some point in time in the medium term as we push out this supply. So I would expect in another year or so, it should be able to stabilise everything."

However, he said three years is the "norm" waiting time for new flats.

Those who do not want to wait have other options, such as resale flats. But he added this is one reason resale flats are more expensive, as the "cost difference reflects the time difference".




The owner of this blog does not share personal information with third-parties nor does the owner store information is collected about your visit for use other than to analyze content performance through the use of cookies, which you can turn off at anytime by modifying your Internet browser’s settings. The owner is not responsible for the republishing of the content found on this blog on other Web sites or media without permission.

Blog Comments

The owner of this blog reserves the right to edit or delete any comments submitted to this blog without notice due to;

1. Comments deemed to be spam or questionable spam
2. Comments including profanity
3. Comments containing language or concepts that could be deemed offensive
4. Comments that attack a person individually

Terms and Conditions

All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.

This policy is subject to change at anytime.

About This Blog

To promote the education of individuals for the need to have a healthy lifestyle and wealth management through proper financial planning, particularly in investments.

Top Blogs


Top Sites

  © Blogger templates Sunset by 2008

Back to TOP