Source (reference): 

• Price of related goods (Substitutes of BTO: Resale HDB, landed or private property, condo) More choices from more established housing estates, more substitutes available to consumers. 

• Consumers may prefer (Taste and preferences) to stay in houses in other estates. Media reports/Advertisements of other houses may influence tastes and preferences of consumers. Leading demand for BTO flats to shift left.

• Quantity demanded for first timer couples: or first timer couples: price decrease due to government subsidies and grants (ELABORATE SUBSIDIES AND GRANTS) leading to QD increase 

1. Location

• Four and five room flats in mature estates, flats near mrt stations (mainly four room flats) are highly sought after.
• Demand determinant: Taste and Preferences; people prioritise factors such as convenience and transport when buying flats.

• Allows couples to afford new flats and resale flats more easily.
• Demand determinant: No. of buyers; More affordable, more of them will buy.

• Allows for couples to better afford rental expenses while waiting for their new flat.
• Affordable, more people will apply for this scheme, more people will buy flats.

• Demand for Resale Houses (LX and QL) 

• Number of buyers in the market:
  Demand for HDB resale properties is expected to rise 1-2% in 2018 due to huge number of en bloc sales, thus en bloc owners eyeing on resale flats

• Expectation of buyers

• Price of Related Goods - Substitutes

• Tastes and Preferences

• Tastes and Preferences

• Tastes and Preferences:
  Demand for HDB flats decrease as more HDB owners prefer private property, thus higher number of resale flats in the property industry, decreasing resale prices.

• Supply of BTO decreased slightly

• Due to the risk of oversupply of private residential flats, there is a need to want to maintain the consistent supply of flats but a slight oversupply. 

• In order to prevent overwhelming demand for HDB flats, there is a need to increase the supply of flats

• Price of flats will eventually increase to cover the cost of the newly supplied flats.

• If the price of private housing increases, the demand for private housing will decrease and put more pressure on the demand of housing flats. 

• not ideal as it creates unwanted pressure on the market.

• grants such as CPF housing grants and Parenthood Provisional Housing Scheme will help to lower the total price of bto flats

• quantity supplied decreases which explains leftward movement of the supply curve.

• producers are less willing to supply greater amounts of flats at a lower price because flats have become slightly less profitable to produce compared to the previous years 
  
  
  
  

• Technology: Improvement in technology/ technological advance > fewer resources are needed for production of a good > Lower costs of production hence goods can be produced efficiently 

• There is an increase in the supply of HDB resale flats as there is greater number of HDB owners selling their properties in pursuit of upgrading to private property this year

• When housing is cheap, households expand (fewer people per household) eg. married couples are more willing to move out and buy their own house. 
• When housing is costly, households shrink (more people per household) eg. staying with parents for a longer period of time, in anticipation that prices may drop lower.

• HDB houses in general is an inferior good: 

• Sole seller of housing with no close substitute
• Barriers to enter - restrictions on the entry of new firms into an industry
• Legal restrictions (License)
•  Public housing managed by Housing development board
• Substantial market power (control the price it sells at/output produced)
• Price maker