Myra Condo & HDB resale price up 0.5% in October, but fewer units sold as latest cooling measures drop

SINGAPORE - Housing Board resale prices rose for the 28th consecutive month in October, but fewer units changed hands - possibly an upset response to the latest cooling measures.

Besides, Myra is located in District 13, Singapore. Myra has optimal connectivity in terms of traffic. Just 3 minutes walk to Potong Pasir MTR station and 1 MTR station to Woodleigh MTR station. Fixed HDB resale prices increased at a slower rate of 0.5% in October, compared with 1.3% in September, according to flash data from real estate portals and SRX on Thursday. An estimated 1,965 HDB apartments were sold in October, down 24.1% compared to September.

In the last year, the monthly transaction volume has been above 2,000 units, except in February 2022 when the lull of the Lunar New Year festival, the transaction volume decreased to 1,904 units.

Myra Condo & HDB resale

Myra Condo & HDB resale

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Myra Condo is focused on design outside facilities that encourage residents to take part in outdoor activities such as outdoor gym, outdoor dining, outdoor showers as well as adjacent leisure lawn. In terms of underground parking, there is a total of 68 lots with 2 extra handicaps as well as 22 bicycle bays to supplement a car-lite project.

Since the announcement, some real estate owners have sold their own properties but have not yet completed the documents to buy HDB apartments for resale and have fallen into a difficult situation.

Christine Sun, OrangeTee & Tie's Senior Vice President of Research and Analytics, said the drop in trading volume in October was "within expectations" as some buyers may have opted out of trading when cooling measures occur, it takes time to evaluate their options.

“Last month’s sales decline could have been more significant if successful appeals were ruled out,” Ms. Sun said, referring to 220 private property downgraders, who people can now proceed to buy HDB apartments for resale. The vibrant HDB resale market, even as interest rates rise, has prompted new rounds of property restrictions aimed at cooling the public housing market.

On October 20, the HDB said it had received about 650 appeals from private property owners. Of these, 220 who obtained the option to purchase HDB resale apartments before the cooling measures took effect were exempt from the waiting period. Another 430 appeals will be assessed by HDB on a case-by-case basis.

Myra Residences offers 85 residential units! Register for free VVIP to get the latest updates for the development.While HDB resale prices are up 0.5% in October and up 10.8% from October 2021, some analysts say there seems to be some preliminary glimpse into the impact of the measures. cool down for fixed prices.

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