Olloi Condo: HDB resale price increased by 1.2% in September; record $45 million apartments sold in a month

If you are looking to buy a house, you can learn about Olloi Condo. Besides, prices of Housing Board resale flats climbed for the 27th consecutive month in September, with a record 45 units changing hands for at least $1 million in a month. HDB resale flat prices grew at a faster pace of 1.2 per cent in September, compared with August's 0.4 per cent, according to flash data from real estate portals 99.co and SRX on Thursday.

In addition to the Olloi Condo project with many amenities and an expensive location, the vibrant HDB resale market, even with rising interest rates, has prompted a new round of real estate restrictions aimed at cooling down the housing market. public. This includes a 15-month waiting period for private property downgraders looking to buy resale HDB apartments and stricter criteria in assessing homebuyers' loan amounts.

The full impact of the measures, which kicks off on September 30, will take some time to be reflected in flat prices and volume, analysts say, but is widely expected to be. adjusted demand for larger units and lower prices.

Transactions completed in September will only be reflected in late October and November, as it takes about eight weeks to process an HDB resale application, said One Global Group senior analyst Mohan Sandrasegeran. and complete the transaction.

Therefore, the full effect of the measures can only be seen in the figures from December onwards. The restrictions come as HDB resale prices increase by 7.8% in the first nine months of 2022, fueled by hot money from private property downgrade investors flowing into the HDB resale market, along with pandemic-related disruptions in the construction sector.

Besides Olloi Residences apartments, 45 million-dollar apartments were sold in September, 17 apartments were luxury apartments and cottages, up from 5 such transactions in August. analysis from Huttons Asia shows. Executive apartments and cottages are usually larger than standard HDB resale apartments and are sought after for their rarity and spacious floor space.

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