As of last week (9th October), property developers were granted another six-month extension to complete their projects. This is a second round of extension, with the last one being in May – altogether, property developers now have a full additional year.

This is fair given the unavoidable difficulties. Covid-19 has disrupted supplies and manpower, and construction had to be halted during the Circuit Breaker period. But what does the overall one-year extension mean for home buyers? Here are some of the side-effects:

  • The delays may be fuelling interest in resale HDB properties
  • A greater incentive to buy the condo before selling the flat
  • QC and ABSD extensions mean lower likelihood of discounts
  • It could affect upgrading plans due to the MOP
  1. The delays may be fuelling interest in resale HDB properties

An interesting phenomenon in the past few months is the increase in HDB resale prices. Here’s what it looks like:

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