News: Proportion of condominium buyers with HDB addresses fall to 29.5%

Nov 22, 2019

Meanwhile, the proportion of condominium units sold to private homebuyers stood still at 50% from the previous quarter.

The proportion of condominium units sold in in Q2 2019 to those having HDB addresses dropped to 29.5% from 37.8% in Q1, reported Singapore Business Review citing Edmund Tie.

This figure includes HDB investors and upgraders who reside in HDB flats.

The drop was due to the sales volume of buyers with HDB addresses falling 3.4% quarter-on-quarter to 1,232 units in the same quarter after rising 33.2% in Q1 (see below).

EDMUND-TIE-Housing-Report-Singapore-Q3-2019.pdf

Image: Edmund TIE Research

Data also showed that the proportion of buyers with HDB addresses for new sales fell by nearly 15 percentage points. On the contrary, the drop in resale units was less drastic, declining by only 1.6 percentage points. This could be mean that resale properties are seen as being more value-for-money (larger units for the same purchase price) among HDB upgraders and investors.

READ: Is The ‘Wait-And-See’ Property Market Finally Over?

Image: Edmund TIE Research

Image: Edmund TIE Research

Meanwhile, the proportion of condominium units sold to private homebuyers stood still at 50% from the previous quarter.

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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg

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