HDB Flats that is going to hit their MOP is predicted to reach between 17,000 to 19,000 annually over the next decade.
Stable rates and higher transaction volumes within the HDB resale market have shown to have pushed upgraders (HDB home owners who have already bought their first homes), to buy a larger abode, whether because of a growing family size, or their own aspirations to do better. Many HDB owners from Bukit Panjang and Bukit Batok estates are anticipating better HDB prices to sell, and are starting to move to private condominiums like Dairy Farm Residences and The Watergardens At Canberra which have a higher potential of capital appreciation and rising rents.
“Whilst there is a noticeable number of families which can choose to upgrade to a private residence, the timing of these families opting to get into the market remains uncertain currently. Private property developers will likely cater their new launches to attract this market,” said a DBS Bank report.
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