HDB’s Resale Price Index for Q3 increases by 3.8%

The Resale Price Index (RPI) of public housing in the third quarter 2011 has reached 187.1, an increase of 3.8 percent over the second quarter.

In its flash estimate released on Monday, the Housing and Development Board said the increase is slightly higher than the 3.1 percent registered in the previous quarter.

The index provides information on the general price movements in the public residential market.

In upcoming sales launches, HDB said it has increased the supply of new flats to meet demands, offering about 23,800 new flats for sale.

The latest being in September 2011 when a bumper supply of 8,262 flats were offered under the BTO and Sale of Balance Flat exercises.

HDB said it will be launching another 4,200 BTO flats for sale in various towns, such as Bedok, Bukit Panjang, Hougang, Punggol and Yishun in November 2011.

It is on track to deliver 25,000 BTO flats for the whole of 2011, and another 25,000 for 2012.

Source : Channel NewsAsia – 3 Oct 2011

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