SINGAPORE (June 11): Mr Yeo, whose wife gave birth to twins late last year, is in the market for a condominium within a 15-minute drive of his inlaws’ home. He thinks private property offers better long-term value compared with public housing. In fact, HDB flats in mature estates such as Bishan, Serangoon and Toa Payoh are near their peak valuations — which means there is limited appreciation potential. “It’s near the $1 million mark already. Most people won’t pay $1 million for an HDB flat,” he tells The Edge Singapore.
As it is, private property prices are now outpacing HDB prices. In 1Q2018, the private residential property price index has shot up 3.9% to 144.1, from 138.7 in the preceding quarter, according to statistics released by URA. This is the fourth consecutive quarter of increase.