HDB resale prices dip for first time in over 4 years

Prices of resale HDB flats fell more than expected in the last three months, according to third quarter statistics released today (Oct 25) by the Housing and Development Board (HDB).

The Resale Price Index (RPI) fell by 0.9 per cent in Q3 in the first decline to be registered since the first quarter of 2009. The flash estimate released by the HDB earlier this month, which took into account the resale prices of the first two months of the quarter, had placed the decline at 0.7 per cent. The dip comes as cooling measures continue to work their way through the market.

Resale flat transactions fell to 4,529 cases in the third quarter of this year, down 13 per cent from 5,235 cases in the previous quarter.

Resale four-room flats in Queenstown witnessed the highest median price transacted among all towns, with a 4-room flat changing hands for a median price of S$693,800. The estate also had the highest median cash-over-valuation, with a median value of S$50,00.

Subletting transactions of HDB flats fell by 5 per cent from 7,891 cases in Q2 to 7,505 cases in Q3. The total number of HDB flats approved for subletting rose 0.6 per cent from 44,706 units in the previous quarter to 44,966 units in the third quarter.

Next month, the HDB will offer about 4,950 Build-To-Order flats in Bukit Batok, Hougang, Jurong West, Sembawang and Woodlands. An additional 3,000 remaining flats will be offered in a concurrent Sales of Balance Flats exercise.

More information on the BTO flats for offer in November this year is available on the HDB InfoWEB.

Source : Today – 25 Oct 2013

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