Singapore, 26 Mar 2021 HDB resale flats in mature estates that are near top primary schools and shopping malls have been traditionally more popular. However, newer flats in non-mature estates like Sengkang and Punggol are also gaining popularity.
Sengkang and Punggol are two of the most popular estates based on the number of HDB resale flats sold in January and February this year, according to data from data.gov.sg. In the two months, 447 flats were transacted in Sengkang while 446 flats were transacted in Punggol. They are followed by Tampines and Bedok, which saw 343 and 268 flats, respectively, changing hands in the two months.
Rarer flat types also fetch higher prices, such as maisonettes and executive flats, says Christine Sun, senior vice president of research and analytics at OrangeTee & Tie.
More cash-rich buyers are considering HDB resale flats. This group includes downgraders from the private market, who could be doing so due to a softer employment market, says OrangeTee & Tie’s Sun.