Chart of the Day: More HDB dwellers bought new homes

8 in 10 opted to buy condo units worth $1.5m and below.

This chart from EdmundTie & Company (ETCo) showed that more Housing and Development Board (HDB) dwellers aspired to have a home upgrade as non-landed sales by with HDB dwellers increased 17.9% YoY to 2,075 units in Q2 from 1,760 units in Q1.

“The growth in non-landed purchases by these buyers came after two consecutive quarters of decrease,” the firm noted.

Data also showed that most HDB dwellers (79.1%) opted to buy properties which were priced $1.5m and below. This is a slight increase compared to the 78.5% who bought properties under the same range in Q1.

Amongst new sales, around 75% and above of popular projects that were taken up by buyers with HDB addresses were generally priced $1.5m and below. This amount rose when considering units priced $2m and below.

“For some developments such as The Tapestry and Parc Botannia, all units purchased by buyers with HDB addresses were priced $2m and below,” the firm explained.