HDB resale prices down slightly in Q3, continuing declining trend

HDB resale prices down slightly in Q3, continuing declining trend

Prices of resale flats for the third quarter fell 0.2 per cent, continuing a declining trend, according to flash estimates released by the Housing and Development Board (HDB) on Monday (Oct 1).

The resale price index – which provides information on the general price movements in the resale public housing market – is estimated to have slid to 131.5 from 131.7.

Resale prices for HDB flats have been on the decline over the last year. Prices fell 0.7 per cent in the third quarter of 2017, 0.2 per cent in the fourth quarter of 2017 and 0.8 per cent in the first quarter of this year, although they inched up 0.1 per cent in the second quarter.

The resale price index for the full quarter will be released on Oct 26.

HDB also announced that it will launch about 3,800 Build-to-Order (BTO) flats for sale in Sembawang, Sengkang, Tampines, Tengah and Yishun in the November sales exercise. There will also be a concurrent Sale of Balance Flats exercise.

Those who buy the Sengkang and Yishun BTO flats will have a shorter waiting time of two-and-a-half years, instead of the usual three to four years, HDB said.

The housing board said in July last year that some BTO projects will be sold with a shorter waiting time to help young couples get their first home earlier.

First-timer families applying for these flats will get higher priority, with at least 95 per cent of the four-room and larger flats set aside for them – up from the current quota of at least 85 per cent in non-mature estates.

The flats will come with floor finishes, internal doors and sanitary fittings, reducing renovation works required and enabling home buyers to move in sooner. All units will also come with an open kitchen concept where the layout permits, HDB said.

Source: Channel NewsAsia – 1 Oct 2018

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