The number of HDB resale flats sold for at least $1M hit a new high in 2020 amid the strong showing by the market given the Covid-19 pandemic, according to flash data from real estate portal SRX released on 7 Jan 2021. There were a couple of factors attributed to this phenomenon. Newer flats are usually sold at a higher prices than older flats in the same vicinity. The pandemic could have led potential HDB BTO applicants to turn to resale market for their home purchases coupled by the record-low mortgage rates that resulted in the unexpected housing boom.
So, is this now a right time for you to do house hunting?
HDB resale market in 2020