What Should You Know Before Buying an HDB for Sale in Singapore in 2024? Guest Post

If you’re contemplating the purchase of an property in Singapore in 2024, rest assured that this article is your compass through the labyrinth of decisions that await. We understand the significance of staying informed about the prevailing market conditions, and that’s precisely what we aim to achieve in the following discussion.

Advantages of Purchasing an HDB Resale Property

One of the primary perks of opting for an HDB resale property lies in the immediate occupancy it offers. Unlike new HDB flats, which often come with a protracted waiting period, resale flats stand as a beacon of prompt availability. This characteristic is particularly advantageous for those who find themselves in need of a swift relocation, ensuring a seamless transition to your new abode.

Furthermore, the spectrum of locations available in the realm of resale flats is vast and varied. These properties grace nearly every estate and site in Singapore, endowing prospective buyers with the luxury of choice concerning their preferred locale. Whether you fancy the bustling urban landscape or a quieter suburban retreat, the HDB resale market caters to diverse preferences.

In terms of spatial considerations, resale flats typically outshine their newer counterparts. The inherent spaciousness of these properties translates into larger living areas and bedrooms, promising a more comfortable and accommodating living environment. Beyond this, resale flats often come hand in hand with proximity to amenities such as schools, shops, transportation hubs, and workplaces, ensuring a lifestyle grounded in convenience.

From a financial standpoint, HDB resale flats are lauded for providing good value for money, especially when juxtaposed with the realm of private properties. In comparison to the lofty price tags attached to private condominiums and landed properties, resale flats emerge as a cost-effective solution for budget-conscious buyers.

Disadvantages of Purchasing an HDB Resale Property

However, the allure of HDB resale properties comes with its own set of considerations. For instance, the age factor may necessitate additional expenditures in the form of renovations. A flat that has weathered two decades may require substantial updates to plumbing, electrical systems, and other essential components. Prospective buyers should be mindful of these potential renovation costs to ensure a comprehensive budgetary approach.

Another noteworthy factor is the potential challenge of selling an older flat in the future. The depreciation of older flats, contingent on the remaining lease, poses a hurdle for those eyeing an upgrade down the road. Planning for the long term includes recognising the potential limitations associated with the resale value of an aging property.

In competitive markets, buyers might find themselves grappling with the concept of Cash Over Valuation (COV). This scenario unfolds when the market prices exceed the HDB’s valuation, compelling buyers to dig deeper into their pockets. It’s imperative to approach the negotiation table with a clear understanding of the prevailing market dynamics to navigate such scenarios effectively.

Moreover, the upward trajectory of HDB resale flat prices in Singapore poses a challenge for certain demographics, potentially rendering these properties less affordable. Prospective buyers are urged to conduct a thorough financial assessment, factoring in potential price fluctuations, to make an informed decision aligned with their financial capabilities and goals.

Current HDB Resale Trends

To embark on this journey fully equipped, one must be attuned to the ongoing trends in the HDB resale market. As of October 2023, the market witnessed a 0.5% increase in resale prices, signaling a sustained upward trend. However, the growth in asking prices for HDB resale flat listings witnessed a slowdown in Q2 2023, with a 0.6% quarter-on-quarter (QoQ) increase, a notable deceleration from the previous quarter’s 1.6% QoQ growth.

Delving deeper into transaction dynamics, resale transactions for HDB flats aged 40 years and above have seen a rise, constituting 11.6% of total resale transactions. This trend underscores a growing acceptance of older properties within the market. Simultaneously, the increasing trend of first-time homebuyers opting for resale flats indicates a shift in preferences toward larger living spaces and enhanced amenities.

The market dynamics are in flux, with younger homebuyers expressing a predilection for HDB resale flats. This evolving preference has injected vitality into the resale market, creating a symbiotic relationship where demand influences supply and vice versa.

Choose 99.co for the Ideal HDB Resale Home

Navigating the labyrinth of the HDB resale market can be a daunting task, but fear not — 99.co is your steadfast companion in this endeavor. The platform serves as a treasure trove of insights into the HDB resale market, offering a comprehensive view of price trends, market dynamics, and transaction volumes. With 99.co by your side, you’re not just shopping for a property; you’re making a well-informed investment.

99.co simplifies the complex process of finding your ideal HDB resale home. The platform’s user-friendly interface facilitates seamless exploration of various options, ensuring that you find a home that aligns with your preferences and budget. The real-time data provided by 99.co empowers you to stay ahead of market trends, enabling you to make decisions grounded in accuracy and foresight.

Whether you’re a first-time homebuyer venturing into the real estate landscape or a seasoned buyer seeking to upgrade, 99.co’s services are tailored to meet your needs. The platform’s commitment to providing valuable information ensures that your HDB resale journey is not just a transaction but a well-guided experience.


In conclusion, the decision to purchase an HDB resale property in Singapore in 2024 is a multifaceted one, laden with advantages and considerations. The immediate occupancy, location variety, spaciousness, proximity to amenities, and cost-effectiveness make HDB resale properties an attractive option. However, the potential renovation costs, resale challenges, Cash Over Valuation scenarios, and rising prices necessitate careful contemplation.

Staying abreast of current HDB resale trends is imperative for making informed decisions. The partnership with 99.co elevates your home buying experience, offering a wealth of insights and a user-friendly platform to explore and understand the market intricacies. As you embark on your HDB resale journey, let 99.co be your compass, guiding you toward the ideal home that aligns with your aspirations and financial goals.