Most private new home buyers in 2012 reside in HDB flats, says DTZ Research
Published on Feb 27, 2013 9:46 PM
BUYERS with Housing Board addresses entered the market in such high numbers last year that they accounted for the majority of new-home purchases for the first time in almost 10 years.
They snapped up 9,380 units, 34 per cent more than in 2011, while buyers with private addresses bought 8,239 units, just 4 per cent higher, according to DTZ Research.
Purchases by HDB address holders were a majority - 53 per cent - of all deals in the primary market last year, the first time this happened since 2003.
The stronger demand from this segment could be due to rising HDB resale prices, which make private housing more affordable for upgraders, said DTZ's head of Singapore research, Ms Lee Lay Keng.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here