2024: Increased BTO Supply – Cause for Celebration or Concern?

Between 2019 and 2022, the number of HDB flats reaching their Minimum Occupation Period (MOP) hit a record high. This bolstered resale price growth and transaction volumes. Likewise, HDB upgraders have supported the demand for private residential properties in recent years.

Moving forward, we expect demand from HDB upgraders to moderate.

As HDB ramps up BTO supply, this will help ease the housing crunch for first-time buyers.

It has proven challenging for second-time buyers to successfully ballot for a BTO flat. Consequently, second-timers are expected to pivot to the resale market.

Disclaimer

This information is provided in good faith and does not relieve any party of the responsibility to verify information from relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers, and lawyers.

For the avoidance of doubt, no liability is assumed for the accuracy, reliability, and/or completeness of the information provided above.