First annual dip in HDB resale prices in 8 years

The Resale Price Index (RPI) for HDB flats for the full year of 2013 has dropped 0.6 per cent, the first annual decline since 2005.

Data released by the Housing and Development Board (HDB) showed that the RPI fell 1.5 per cent from 204.8 in the third quarter of 2013 to 201.7 in the fourth quarter of 2013.

The number of resale transactions for the full year of 2013 dropped 28 per cent to 18,100 — the lowest volume since 1997 since HDB started keeping records.

Resale transactions fell by 12 per cent from 4,529 cases in Q3 to 4,001 cases in Q4.

Subletting transactions fell by 3 per cent from 7,505 cases in Q3 of last year to 7,268 cases in the fourth quarter.

The total number of HDB flats approved for subletting rose 1.6 per cent from 44,966 units in Q3 2013 to 45,674 units in the following three months.

HDB will offer 24,300 BTO flats in 2014. The first batch of 3,139 BTO flats in Bukit Batok, Jurong West, Punggol, Serangoon and Woodlands were launched earlier this week, on January 22.

In the upcoming March BTO exercise, HDB will offer about 3,400 new flats in Sembawang, Sengkang and Yishun. The details will be available on the HDB InfoWEB when HDB launches the sales exercise.

Source : Channel NewsAsia – 24 Jan 2014

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