Resale flat prices may begin moderating from 2026 as new units reach MOP: Chee Hong Tat
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Resale flat prices may begin to moderate starting from 2026, National Development Minister Chee Hong Tat said during his first site visit to Toa Payoh Ridge on Wednesday (May 28). Minister Chee, who was sworn in as Minister for National Development (MND) lasResale flat prices may begin moderating from 2026 as new units reach MOP: Chee Hong Tat
Resale flat prices may begin to moderate starting from 2026, National Development Minister Chee Hong Tat said during his first site visit to Toa Payoh Ridge on Wednesday (May 28). Minister Chee, who was sworn in as Minister for National Development (MND) last Friday (May 23), was previously Minister for Transport. Speaking with media at a playground in the new Toa Payoh Ridge, Chee acknowledged that the increase in resale flat prices has been a concern for Singaporeans. «This is also an important area for my ministry and we want to see how we can help to address this concern,» he said. He explained that one contributing reason for these price hikes is the Build-To-Order flat (BTO) delays that occurred during the Covid-19 pandemic, which drove demand for resale flats. Chee stated that he believes this situation will improve come 2026 as more new flats built over the past few years reach their five-year minimum occupation period (MOP). «Once we see more supply coming in and also coupled with more new BTO flats entering the market, I think we will see moderation,» he said. Read more