Around 20,000 HDB units annually to hit MOP starting 2020
Flats that will hit the MOP is expected to reach 17,000 to 19,000 annually over the next 10 years.
Starting from 2020, there will be about 20,000 HDB units that will come off their minimum occupation period (MOP), reported Singapore Business Review citing a DBS Bank report.
Flats that will hit the MOP is expected to reach 17,000 to 19,000 annually over the next 10 years.
Stable prices and higher volumes within the HDB resale market are seen to push upgraders (homeowners who have already purchased their first HDB homes), to purchase a larger home, whether because of aspirations or a growing family.
“Whilst there is a significant number of households that can choose to upgrade to the private market, the timing of these households opting to enter the market remains uncertain for now. Developers will likely cater their projects to attract this market,” said the report.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
