Changes in HDB grants: No price spikes for resale flats but EC crunch could worsen

Crowds at a sales gallery for an executive condominium in Punggol during its launch weekend, on July 28, 2019. PHOTO: CITY DEVELOPMENTS LIMITED
To keep public housing affordable, the Government will most likely monitor the market and ramp up the supply of new flats if needed. PHOTO: ST FILE
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While the resale market for ageing flats is set to see a boost from changes to housing grant schemes that kicked in yesterday, the prices of such flats may not necessarily rise in tandem with increased demand, property observers said.

This is because the Government is likely to increase the supply of new flats to match the higher overall demand and keep housing prices under control, they added.

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A version of this article appeared in the print edition of The Straits Times on September 12, 2019, with the headline Changes in HDB grants: No price spikes for resale flats but EC crunch could worsen . Subscribe