Prices of HDB flats at record high in Q4 2009

Prices of Housing and Development Board (HDB) flats are at their highest on record.

According to preliminary estimates from the HDB on Monday, the Resale Price Index of public flats stood at 150.7 in the fourth quarter of 2009 – highest on record since data was compiled in 1990.

Estimates show that prices of resale flats rose 3.8 per cent in the last three months of 2009, the fastest pace of growth since the third quarter of 2008. For the whole of last year, prices of resale flats rose about 8 per cent.

HDB said flat buyers can look forward to 1,300 build-to-order (BTO) flats in Choa Chu Kang and Hougang, which will be offered for sale on Tuesday.

The housing board said it will continue to launch more BTO projects this year if there is sustained demand for new flats, and will ensure that there is an adequate supply of flats to meet prevailing housing needs.

The HDB is due to release detailed resale price data and public housing data for the fourth quarter on January 22.

Source : Channel NewsAsia – 4 Jan 2010

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