New home prices likely to remain unchanged: Experts

Developers, contractors may absorb extra costs from measures to keep virus transmission low

Buyers have the upper hand in a weak economy, say experts, and developers and contractors are expected to take this into consideration. And while, in principle, contractors will have to bear the additional costs of safe distancing measures, the autho
Buyers have the upper hand in a weak economy, say experts, and developers and contractors are expected to take this into consideration. And while, in principle, contractors will have to bear the additional costs of safe distancing measures, the authorities are working out how costs can be spread among the different parties involved.ST PHOTO: KELVIN CHNG

Prices for upcoming Housing Board (HDB) flats and private properties will likely remain the same despite an inevitable hike in construction costs, said property analysts.

Developers may absorb the additional costs or get contractors down the line to do so, instead of raising property prices, as buyers have the upper hand in a weak economy.

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A version of this article appeared in the print edition of The Straits Times on May 26, 2020, with the headline 'New home prices likely to remain unchanged: Experts'. Subscribe