Resale prices for HDB flats rose for the eighth straight quarter, surging 4.1 per cent between April and June from the previous January to March period. The median cash over valuation (COV) - the cash amount paid upfront by a buyer over a flat's valuation - also hit a record $30,000 in the second quarter of this year.
Speaking on the sidelines of a community event in Tampines, Mr Mah attributed the surge to strong economic growth and increased demand from first-time buyers and those looking to upgrade to bigger flats.
'I think at this point in time, there's still an imbalance. I hope that with HDB pushing out a record number of flats this year, this imbalance will be redressed over the medium-term... I would expect in another year or so we should be able to stabilise everything,' Mr Mah said.
The truth is that it will addressed for those who are first-timers but not those who in need of the available NOW. they could not wait for 4-5 years when the flats have complated.
so, the resale market will head one direction:UP.
the whole things we saw is that he is doing firefighting, when there is fire, he will fight, when there is none, he closed his eyes.
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