After the exit from Phase 2 (Heightened Alert) in June 2021, the HDB resale market emerged stronger in July 2021.
HDB resale volume in July 2021 is even higher than a year ago after Singapore exited the Circuit Breaker. The construction delays induced shift in demand continues unabated in July 2021.
Interestingly the transaction volume for flats 45 years and older in July 2021 was around 51% higher than a year ago. About 75% of the transactions or 144 flats were 3-room flats. It could be empty nesters rightsizing to suit their retirement needs.
The pace of price gains have slowed for the second month, possibly due to price resistance from buyers.
In the first seven months of 2021, an estimated 16,393 HDB flats were sold, putting the HDB resale market on course to register a record volume between 27,000 and 29,000 units, the highest yearly transaction level since 2010. There may be 200 million-dollar flats in 2021 as positive sentiments give owners the leverage to ask for higher prices. Prices may rise up to 8% in 2021, the strongest growth since 2011.