Two HDB resale flats had listing prices of $2 million in May, which were debunked by the authorities for being misleading and unrealistic.
Synopsis: Every second Monday of the month, The Straits Times takes a hard look at Singapore's social issues of the day with guests.
The authorities sat up and paid attention when a jumbo flat in Sengkang was put up for sale with an asking price of $2 million in May. Then there was a listing for a DBSS flat in Toa Payoh asking for $2 million.
But with a record number of HDB transactions above $1million each - a phenomenon that started around 2012 - is a HDB resale flat with a price tag of $2 million permanently unrealistic?
In this episode, ST assistant podcast editor Lynda Hong and business correspondent Sue-Ann Tan look at the percentages and context of HDB resale flats in the market with Nicholas Mak, who is now chief research officer of property search portal Mogul.sg.
He has over 25 years of experience in the Singapore and regional real estate markets.
Highlights (click/tap above):
1:35 Why did the agents push these $2 million HDB resale listings, which have been debunked by the authorities as unrealistic or misleading?
3:30 Avoiding ripple effects and creating the wrong impression among other sellers and buyers
9:54 What should potential buyers do?
12:05 Can the government divert demand away from the resale market and delay reaching a $2m mark there?
16:35 How do buyers discern if a HDB resale listing price is unrealistically high?
Read ST's Opinion section: https://str.sg/w7sH
Read Sue-Ann Tan’s articles: https://str.sg/KpUx
Produced by: Lynda Hong (lyndahong@sph.com.sg), Sue-Ann Tan (suetan@sph.com.sg), Ernest Luis & Hadyu Rahim
Edited by: Hadyu Rahim
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