Back in September, the Ministry of National Development (MND) introduced a brand new Enhanced Housing Grant (EHG) and raised the earnings for buyers.
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With the new grant, youthful HDB flat buyers can enjoy up to $80,000 in grants once they purchase a new flat, and up to $160,000 in grant amount should they opt to get a resale HDB flat from the open market.
In his blog post, Wong noted that the estimated variety of BTO flats for 2020 is greater than the source of 14,000 flats for this particular year.
“Besides ensuring home affordability, we also want present HDB flats to remain great homes for their owners. Thus, we are investing significantly from the upgrading of HDB estates,” he said.
“In the next few years, we’ll continue to do more to provide better, greener and smarter houses across all HDB precincts,” added Wong.
Resale HDB Flats To Watch Sustained Demand: PropertyGuru Outlook
According to the PropertyGuru Market Outlook 2020 report, BTO launches in mature estates, combined with the large grant amount for resale flats could bring about a small cost moderation of resale flats at the same estates. That is because the increased grant amount for resale flats will also give vendors more leverage within their asking prices.
Additionally, the increase in income ceiling for BTO and EC houses will also bring about a fresh pool of demand. BTO flats in mature estates are most likely to be multiple times oversubscribed, funnelling first-time buyers to the resale market.