Developers’ sales for the week of 1 – 7 Jan 2024 were 27 units
The CCR accounted for 11.1% while the RCR and OCR made up 55.6% and 33.3%
The respective top-selling projects in the CCR is Watten House, followed by Pinetree Hill and The Reserve Residences in the RCR, and EC – North Gaia in the OCR
HDB is reducing its BTO flats from 22,780 units in 2023 to 19,600 units in 2024 but remain committed to launch 100,000 BTO flats from 2021 to 2025
The cut of almost 15% in BTO flats is good news for the resale market in 2024
When HDB launched 100,000 BTO flats from 2011 to 2014, resale prices contracted from 3Q 2013 to 2Q 2019
This trend may be repeated if HDB continues to push out more than 20,000 BTO flats in 2024 and 2025
The change from 4 BTO launch exercises to 3 may lead to some buyers turning to the resale market
This positive development will give HDB upgraders an opportunity to upgrade in 2024
