HDB resale prices up 2% in Q3

Strong housing demand and a buoyant resale market have pushed up the resale prices of public housing flats by 2 per cent in the third quarter of 2012 over the second quarter.

The Housing and Development Board (HDB) said on Monday that its flash estimate of the 3rd Quarter 2012 Resale Price Index (RPI) stood at 197.9.

This was the sharpest increase so far this year for the RPI, which tracks the general price movements in the public residential market.

In Q2, the RPI rose by 1.3 per cent to 194, after climbing 0.6 per cent to 191.6 in Q1.

However, the Q3 increase was still lower compared with the 3.8 per cent rise in the same quarter last year to 187.2.

In view of the overall strong demand and buoyant market, HDB has been ramping up the supply of Build-to-Order (BTO) flats to meet the housing needs of first-time buyers.

It is offering a record 27,000 BTO flats this year, 2,000 units more than the original 25,000 planned for the year. The September 2012 BTO exercise will close on October 3.

HDB has also offered a total of 7,153 flats in the two Sale of Balance Flats exercises in 2012.

It has advised young couples looking to set up their first homes to consider applying for BTO flats.

First-timer households may make use of the various housing grants to help them own a new flat.

HDB said with the grants, young couples buying their first homes would be able to buy a 4-room flat for as low as S$219,000.

In November, HDB will offer 6,400 BTO flats in Queenstown, Bedok, Toa Payoh, Sengkang and Choa Chu Kang.

Source : Channel NewsAsia – 1 Oct 2012

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