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SINGAPORE — The launch of new public housing projects under the Prime Location Housing Model in Bukit Merah and Queenstown is unlikely to have a direct, near-term impact on resale prices in the vicinity, analysts said.
They added that although the longer minimum occupancy period imposed on these flats would delay a supply of fresh flats entering the resale market in the future, it does not mean that resale flat sellers can set higher prices since this would turn away most buyers.
The five analysts interviewed by TODAY further noted that even though these flats are expected to be heavily oversubscribed, unsuccessful applicants would not jump into the resale market immediately — due to the higher prices of resale flats and also because of differing housing needs.
This view was echoed by some applicants to the two prime location developments who spoke to TODAY.
The Housing and Development Board (HDB) on Friday (May 27) launched the sale of more than 2,500 Built-To-Order (BTO) housing units in Bukit Merah and Queenstown under the prime location model.
These — along with three other BTO projects in Jurong West, Yishun and Toa Payoh — will add about 4,600 new flats into the housing market.
The prime location model was introduced last year to ensure that all HDB flats, including those in prime and central locations, remain affordable and accessible over time.
More at https://www.todayonline.com/singapo...ly-impact-resale-flat-prices-analysts-1910481
