In tandem with the slower market conditions, the resale volume in the first quarter of this year - up to Mar 27 - is 6,392, said HDB. This is 7.7 per cent lower than that in the same period last year.

In February, 5,590 SBF units in varying stages of completion were rolled out. They were oversubscribed, with more than 22,000 applicants for the flats.

To qualify for deferred income assessment before this change, both parties would have to be either full-time students or national servicemen, or have completed their studies,

The Singapore Overnight Rate Average, the de facto standard for Singapore’s loan products including home loans, fell to 2.08 per cent on March 13, the lowest since Dec 30, 2022.

Mr Lee said there will be a significant jump in the number of new flats reaching their minimum occupation period (MOP), from 8,000 in 2025 to 13,500 in 2026.

A total of 5,420 new and resale non-landed private homes were bought by those with HDB addresses in 2024, up 7.1 per cent from 5,060 in 2023, according to PropNex.

New home sales, excluding executive condominiums (ECs), jumped more than fivefold to 1,083 units from just 203 units in December 2024,

There is an average of 350 cases a year, where one spouse is listed as an owner and the other an essential occupier with no legal rights to the flat

The project in Simei – which HDB classifies as part of Tampines – will have about 380 units of two-room flexi, four- and five-room flats

The bulk of the balance flats are in Ang Mo Kio, Tampines, Tengah and Woodlands.

Islandwide, the median size of non-landed new condos has dropped 10.6 per cent to 904 sq ft in 2024 from 1,012 sq ft in 2010, according to Cushman & Wakefield,

More Build-to-Order (BTO) flats with shorter waiting times will be launched for sale, while lower loan interest rates may attract more people to the private property market, they added.