HDB resale prices continue to rise?

Yesterday there was an article in the Straits Times on the increasing resale prices of HDB flats. 

And there are warnings on the potential increase of interest rates that might increase strain on buyers servicing their mortgage loans. 

So is it still a good time to buy houses now?

The question is why is demand increasing ?

(1) Due to the work from home initiative, many realized the need for more personal and spaces. Many crave for a personal space for their own, and started to look for houses. 

(2) With the current low interest rates, many are taking advantage of it and buying property. 

(3) Some are taking advantage of the current prices of property market, in anticipation of high property and higher rental yields when international travel become possible in future and more foreigners come to Singapore. 

Let's talk about Supply:
Due to small land size of Singapore, there are always constraints on the land space and the land used to be built for houses. While the government and property developers build apartments with higher floors, there is a limit on how high it can go due to airspace constraints. Because of this supply remains limited. 

Supply seems to be tight in Singapore.

So is it still a good time to buy now?
Well it depends on the type of houses, location and the remaining lease of the house. 

Buying a house is a lot of fun, excitement waiting in anticipation to get your keys, but there is a lot to take note too.