Opinion

February 2019 PropNex Quarter 1 Analysis Of The Market

Opinion

Quarter 1 2019 Property Market Outlook

With the report and infographic published by Straits Times above, the effects of the 5th July 2018 cooling measures have taken effect, and is now reflected in the property market trend! Wait… Hold on, should the cooling measures be blamed for the HDB price drop?  So what should you do if you own a HDB today?

Performance of HDB

Based on my analysis, the drop in HDB can be attributed to the over supply of the HDB units which reached MOP status in 2019.  This is the first year that we’ve had 30,000 units achieving MOP status, and would mean that more units will be entering the current market supply. On top of that, there are at least 24,000 unsold inventory left for buyers to buy directly from HDB. So with more supply, prices would drop further.

Some of my clients and friends commented, “Isn’t the government bringing in more PRs? That would increase the demand?“. Yes they are right! The increase in Permanent Residents would increase demand too.  However, back in August 2013, it has been declared that all PRs in Singapore can only buy resale HDB flats, 3 years after attaining PR Status. Therefore, this policy affects the demand of HDB flats.

So with the increase in supply and the reduce in demand, I personally feel that a HDB apartment should not be considered an investment asset in today’s market.

What should I do with my HDB flat?
Stay calm! Call me to discuss further!

– Lynn Gor 8383-8321

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