Is a BTO Supply Increase in 2024 a Cause for Celebration or Concern?

The HDB resale market saw record high number of flats achieving Minimum Occupation Period (M.O.P) between 2019 and 2022. This has support resale price growth and transaction volume. Similarly, the HDB upgraders have fuelled demand for private homes in recent years. 

Going forward, we expect to see softer demand from HDB upgraders. 

With HDB ramping up BTO supply, this will alleviate housing crunch for first timer. 

It has been proven difficult for second timer to secure BTO flats. Hence, we expect second timers to divert to the resale market instead.