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News Release

Singapore

JLL News Flash | Singapore Budget 2017


​​​​​​​​"The Budget 2017 measure having an impact on the property market is the increase in CPF housing grants for resale flats. For 4-room flats or smaller, the grant is being increased from $30,000 to $50,000, while for 5-room flats or bigger the increase is from $30,000 to $40,000.

 

The above CPF housing grant increases are likely to assist more buyers interested in resale flats and expected to sustain the increase in resale volume, which already rose 7.8 per cent in 2016
y-o-y. The resale price index, which has remained largely flat since 3Q15, will certainly stabilize or perhaps rise slightly with increased demand and higher resale volume.

 

A healthy HDB resale market with stable prices would lift sentiments amongst HDB households aspiring to upgrade to private homes. Demand for private homes may improve more than earlier expected and help to stabilize the private residential market."