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The demand for residential property in Singapore remains robust. In particular, the pandemic seems to have boosted demand for HDB resale property due to factors such as:
- Delays in BTO launches
- A growing tendency to telecommute and
- An increased demand for space caused by longer hours spent at home.
This led to a 5% rise in resale flat prices last year, according to HDB.
In 2021, these trends are expected to continue with early indications such as the comeback of the Cash Over Valuation (COV) in the HDB resale market.
The demand from buyers looking for a new home will hopefully be matched by the strong supply of MOP flats.
You can read more about the HDB MOP market in the PropertyGuru Property Market Outlook 2021 report: https://www.propertyguru.com.sg/property-guides/property-market-outlook-pmo-2021-38009
Hope this answers your question.
I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead.
You may text 9620 0827 for a casual chat. We can share with you the market trending for your information.