After a year that started mostly with bad news and uncertainties generated by the recent events, we are more than glad to announce that a batch of BTO units is ready for launch in the soon-to-be-famous Park District. When will this happen? Those interested in finding a home in the Park District should know that these units will be out for sale this month. The launch is within the Parc Residences @ Tengah project and it will provide the very first 1,040 built-to-order residential units in this area. Known as the “forest town”, the Park District is a gorgeous green area, an oasis of peace and relaxation for all those looking to get away from the busy sectors of the city.
Considering the events that marked the first half of this year, it’s no secret that the real estate market is not doing so well. Demand for new homes went down in a significant manner, plus developers had to stop or delay any launches they had planned because of social distancing rules and restrictions. Thus, it was quite a surprise to notice that the price of private homes managed to record a slight increase after the rather difficult past months. More precisely, the prices of homes from the private sector enjoyed an increase of 0.3% in the second quarter of this year.
While The Second Quarter Housing Board Flat Resale Transaction Period Plummeted, There’s Hope For The Future
During the second quarter of this year, the housing board flat resale transactions plummeted due to the circuit breaker measures. According to data from the HDB, transactions dropped by 41.9% from 5,893 during the 1st quarter to 3,426 over the 2nd quarter. In comparison to the data from last year, the percentage this year is 45.4% lower
According to the Housing Board, units dropped during the second quarter due to Say at Home Orders. Singapore’s shut down led to severe measures that lasted from April to June.