Monday, June 16, 2008
There is no slowdown in the public housing market, but National Development Minister Mah Bow Tan has said the number of transactions may not be as high as six months ago, as the market is now more balanced with an adequate supply of new flats being offered by the Housing and Development Board.
- Channel NewsAsia - 15 Jun 2008
A more ‘balanced’ market:
THE private market may have quietened, but the housing board resale market remains “quite active”, said Minister for National Development Mah Bow Tan.
.:“Transactions are still strong — not as strong as six months ago, but still relatively strong,” Mr Mah said, on the sidelines of a community event yesterday.:
.:“It’s a real demand, a real market for people to buy a flat to live in, unlike the private market where some people buy to live, some to invest, some for speculation. So long as there are new families being formed and new immigrants coming in, the HDB market will remain a very active one.”
.Supply and demand, he added, was now more balanced. “Because of the uncertainty ... people are a bit more cautious,” he said. “I think people realise that there’s adequate supply coming on stream, they don’t have to panic, we’re pushing out more Build-To-Order (BTO) flats. Those who can afford to wait, they’ll wait.” - Today 16 June 2008
May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
Smart Buyers, 10 reasons to wait
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