Housing Development Board Skyrocketing HDB flat prices
33 HDB flats were sold in August 2022 for more than $1 million.
This is a classic panic situation.
This is how a bubble builds up.
It can happen to any market.
The HDB property market is just one of them.

Why?
There are more than 1 million HDB flats in Singapore.
There should be more than 100,000 owners of flats in the category that are being sold for over $1 million.

With rising prices, most of the owners prefer to wait and see the prices go up further.
Only 33 were willing to cash out.
There must be several hundred buyers who are willing to pay more than $1 million.

Suppose 500 owners decided that they better cash out in this hot market.
The price will drop below $1 million.

This should also happen when the govt decides to increase the supply of HDB flats.
The era of million dollar flats may be temporary, or transitory.
With rising prices, most of the owners prefer to wait and see the prices go up further.

Tan Kin Lian

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Thank is way

H  09 Sep 2022  

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