Higher grants spur buying of HDB resale flats

Several policy changes to help young home buyers get their first homes have been rolled out in recent years.
Several policy changes to help young home buyers get their first homes have been rolled out in recent years.PHOTO: ST FILE

There was a jump in the number of HDB resale flats sold in October, on the back of the higher grants and income ceilings for first-time buyers that took effect in September.

Real estate portal SRX Property said there were 2,213 Housing Board resale flat transactions last month, which was an 18 per cent increase from September. Compared with a year ago, the resale volume was also 10.6 per cent higher.

While transaction numbers were up, resale flat prices last month fell by 0.2 per cent over September's figures, although this was still 0.1 per cent higher than a year ago.

A version of this article appeared in the print edition of The Straits Times on November 08, 2019, with the headline 'Higher grants spur buying of HDB resale flats'. Print Edition | Subscribe