Of the 37 families living there, 30 have already found alternative housing, while the remaining seven are “considering renting another property in the interim”, noted the SLA.
The clampdown on the re-issue of options to purchase (OTP) by developers, as well as the lack of new launches could be reasons for the decline in new home sales, observed analysts.
Experts observe that the flats in Sembawang, Tampines and Tengah are expected to attract “fairly healthy applications”, though they would not be as hotly contested as those in Bishan and Toa Payoh (Bidadari).
ERA APAC Centre's Transformation Ceremony on 11 November, attended by Minister Demond Lee, unveiled digital initiatives aimed at making property transactions efficient and seamless.
The government cautions Singaporeans from the lure of cheap mortgages, and to remain prudent "given the labour market uncertainties in the current economic situation".
Amongst the properties sold, a two-storey semi-detached home at 14 Lorong Kismis attracted 14 bids and was sold for $1.32 million, which is up 20% from its $1.1 million opening price.
The Council for Estate Agencies (CEA) has also warned real estate agents against using “inaccurate, false and misleading claims” to pressure HDB owners into selling their flats for the sake of earning more commission.
