Prices of resale HDB flats have shot up 38% over the past three-and-a-half years according to Eugene Lim, associate director, ERA Asia-Pacific. But what's shocking is that 40% of buyers are made up of Permanent Residents according to recent ERA's resale transactions.
- "The government's target population of 6.5 million is steadily increasing the pool of PRs; and they have to buy their HDB homes from the resale market as they do not qualify to buy new flats directly from HDB. ERA's resale transactions show that PR buyers make up some 40 per cent compared to 20 per cent three years ago." - Eugene Lim, assosiate director, ERA Asia-Pacific.
