HDB’s Q3 resale price index rises 3.8%

The HDB’s Resale Price Index (RPI) for the third quarter 2011 expanded to 187.2 from 180.3 in the second quarter.

In a press release on Friday, the Housing and Development Board (HDB) said this was an increase of 3.8 percent over the previous quarter.

HDB added that resale transactions for flats fell by about 10 percent to 5,903 cases from 6,581 cases in the second quarter.

Subletting transactions also fell in the rental market, by 9 percent from 7,177 cases in the second quarter to 6,549 cases in the third quarter.

The total number of HDB flats approved for subletting rose to about 39,100 units in the third quarter, compared to about 37,900 units in the previous quarter.

For upcoming sales launch in November this year, HDB said it will involved 4,200 BTO flats in various towns such as Bedok, Bukit Panjang, Hougang, Punggol and Yishun.

For 2012, HDB said prospective flat buyers can look forward to another 25,000 BTO flats.

Source : Channel NewsAsia – 28 Oct 2011

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