Stephen Chong - Property Strategist

08/08/2026

HDB Prices are Falling, But Why are $1Mil Flats Booming?!

06/08/2026

En Bloc Just Got Easier?!

31/07/2026

Bukit Timah Land Prices Jumped 15% in Just 10 Months?!

28/07/2026

The Lifestyle Around Dunearn House Will Surprise You

28/07/2026

The 2 announcements by MND today are actually not related.

🚨But I think this one will have a much bigger impact on the property market.

The Government has removed the 15-month wait-out period for private property owners who want to buy an HDB resale flat.

Lets talk in depth. 🧐

Why remove it now?

HDB resale prices have already fallen for 2 quarters in a row. 📉📉

And if you read my previous post, you’ll know that the number of MOP flats is going to increase quite a lot over the next few years.

* 2026: Around 13,500 flats reaching MOP.
* 2027: Around 19,000 flats.
* 2028: Around 21,000 flats.

Just imagine this.

If 13,500 MOP flats are already enough to slow down HDB resale prices today…

What do you think will happen when another 19,000 and 21,000 flats enter the market over the next 2 years?

My guess is the Government doesn’t want to wait until prices soften too much before taking action.

So instead of reacting later, they’re bringing back another group of buyers now to help balance the market.

So what does this mean?

The government does NOT want to see the property market CRASH! 💥🚫

What about the impact?

First, more retirees can finally downgrade.

There are many private property owners who have been waiting for this.
Now they can sell their condo and move straight into an HDB resale flat without waiting 15 months.

Second, more Singaporeans who own overseas properties can also come back into the HDB market much faster.
I think this is especially relevant for those who own properties in Malaysia and especially the SPR.

Third, I think 5-room HDB flats could see stronger demand.
Previously, if you were above 55 years old, you didn’t need to wait 15 months.
But there was one catch.
You could only buy a 4-room flat or smaller.
Now that restriction is gone, I think some HDB buyers may choose 5-room flats because they still want the extra space.

Another impact is on the rental market.
Previously, many people had to rent for 15 months while waiting to buy an HDB.
Now they can move directly into their resale flat.
So that temporary rental demand could come down a little.

Lastly, I think we’ll also see more resale private properties coming onto the market.

Some owners delayed selling because they didn’t want to wait 15 months before buying an HDB.

Now that obstacle is gone, I think more people will finally decide to downgrade.

With the pent up demand, will HDB resale prices shoot up again?

Personally, I don’t think so.

The market today is very different from 2022.

Back then, HDB prices were rising very quickly.

Today, prices have already started to soften, and we’re expecting a lot more MOP flats in the next 2 years.

So I see this policy more as a way to support demand and keep the market balanced, instead of pushing prices up again.

What about private property prices?

I don’t think this will cause private property prices to fall.

But I do think we could see more resale condos being put up for sale because it’s now much easier for owners to downgrade.

That gives buyers more choices, which could reduce some of the upward pressure on resale condo prices.

Overall, I think the biggest impact will still be on the HDB resale market, while the impact on private property prices should be relatively small.

Are you looking to downgrade now?
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28/07/2026

🚨 2 BIG Property Announcements Today!

✅ 1. No more 15-month wait-out period for private property owners buying HDB resale flats

✅ 2. Developers of larger projects get a longer ABSD deadline

I will discuss in details shortly!

26/07/2026

Dunearn House sold 208 out of 380 units (54.7%) during its launch weekend.

But here’s what caught my attention.

The sales weren’t evenly spread across all unit types.

✅ 3-Bedroom – 100% sold (20/20)
✅ 3-Bedroom + Flexi – 95% sold (19/20)
✅ 3-Bedroom + Study – 90% sold (18/20)
✅ 4-Bedroom – 31 out of 36 sold (86%)

These larger family-sized units were snapped up very quickly.

On the other hand…

🔸 2-Bedroom – only 30% sold (12/40)
🔸 4-Bedroom Premium – only 6 out of 36 sold (17%)
🔸 4-Bedroom Premium + Study – only 5 out of 36 sold (14%)

This tells me buyers are very selective in today’s market.

They are willing to pay for the “right” unit, but not just any unit.

For me, the biggest surprise wasn’t the overall 54.7% take-up rate.

It was which units buyers chose to buy.

That says a lot about what owner-occupiers value in today’s market.

What do you think?

24/07/2026

HDB resale prices have fallen for 2 quarters in a row.

The last time this happened was back in 2019.

So naturally, many of you are wondering:

“Is this the start of an HDB price crash?”

Here’s my view.

First, let’s look at the bigger picture.

Since the market bottom in 2019, HDB resale prices have already increased by about 55%.

After such a huge increase, prices have only eased by 0.4% over the last two quarters.

Here’s something many people missed.

Even though prices came down, the number of resale transactions actually increased by 1.8%.

If buyers were really panicking, you would expect fewer people buying HDB flats.

A good comparison is 2014. Back then, resale prices fell by 6%, and transaction volume also dropped by 4.3%.

Today, we’re seeing the opposite.

Buyers are still entering the market. They’re just becoming more careful about the price they’re willing to pay.

Another interesting point…

In the last quarter, 16 towns saw prices fall, but 10 towns still recorded price increases.

If this was a real market crash, you would expect almost every town to be falling together.

That’s not what’s happening today.

So personally, I don’t think this is the start of a crash.

But… I do think HDB resale prices could continue to soften over the next few years.

Why?

Because a lot more flats are about to enter the resale market.

Around 13,500 flats will reach their MOP in 2026.

That increases to around 19,000 in 2027, and more than 21,000 in 2028.

That’s almost 54,000 additional resale flats entering the market over the next three years.

At the same time, HDB is also launching more BTO flats.

More supply means buyers have more choices.

And when buyers have more choices, sellers have less bargaining power.

In my opinion, this isn’t just a one-quarter story.

We’re entering a period where buyers will gradually have more negotiating power.

So if you’re a seller, don’t expect the same market we saw during Covid, where buyers were willing to pay high Cash Over Valuation just to secure a flat.

Those days are becoming harder to find.

If you’re a buyer, the next few years could give you more opportunities to negotiate and buy at a better price.

So the real question isn’t whether prices will drop.

The real question is:

If you’re planning to sell in the next 12 to 18 months, is it better to sell now, or wait until even more flats enter the market?

Every family’s situation is different.

If you’re unsure which timing makes the most sense for you, feel free to reach out for a 1-to-1, no-obligation discussion.

I’ll help you work out the best strategy based on your own situation, not just the headlines.

💬 WhatsApp: https://wa.me/6591887652

HDB resale price index dips for a second consecutive quarter, as competition from BTO launches, economic uncertainty and a softer job market weigh on buyers.

24/07/2026

Many people only read the headline:
“Private property prices went up 0.5% in Q2 2026.”

But if you stop there, you’re actually missing the more interesting part.

When I looked into the report, here’s what I found:
✅ CCR: +1.8%
❌ RCR: -1.8%
➖ OCR: -0.1%

Quite surprising, right?

So… does this mean people are buying CCR again?

But then you’ll hear some experts always say “OCR is still the best.”

So which one is correct?

This is exactly why so many buyers get confused.

One person looks at one piece of data and says, “Buy CCR.”

Another looks at something else and says, “No, OCR is better.”

If you’re just watching different YouTube videos or reading different posts, you’ll probably end up even more confused.

The truth is, property isn’t that simple.

A quarterly report only tells you what happened.
It doesn’t tell you why it happened, or whether the same thing will happen next quarter.

That’s why I always tell my clients…

Don’t just look at the numbers.
Understand the story behind the numbers.

Why did CCR go up?
Why did RCR fall?
Is it because of one luxury project? Supply? Buyer demand? Or something else?

Those answers are much more important than the headline itself.

That’s also how I analyse the market for my clients.

Instead of telling everyone to buy the “hottest” region, I look at your budget, your goals, and what gives you the best chance of making a good decision.

Because at the end of the day, you’re not buying a market.

You’re buying one property.

If you’d like to explore your options, feel free to contact me for a 1-to-1, no-obligation discussion.

I’ll help you assess your current situation and work out the strategy that best suits your goals.
💬 WhatsApp: https://wa.me/6591887652

Developers moved 2,141 new private homes during the quarter, up from the 2,013 units sold in 1Q2026.

21/07/2026

If I had $3mil, Would I buy Dunearn House? 🤔