Prices of HDB flats, private homes on the rise

Prices of HDB resale flats rose by 2.5 per cent in the last three months of 2010, the lowest quarterly growth for the year.

This brings the full year’s price increase to 14.1 per cent.

According to the latest housing data released by HDB, the total number of resale transactions fell to about 32,260 last year, a 13 per cent drop from 2009.

The median cash-over-valuation (COV) fell to S$23,000 in the three months ending December.

The proportion of resale cases transacting above valuation remained at 96 per cent.

Private home prices rose 2.7 per cent in Q4, unchanged from the flash estimates released by the Urban and Redevelopment Authority earlier this month.

This brings the full year price increase to 17.6 per cent, compared with the 1.8 per cent rise in 2009.

Landed properties saw the biggest jump, rising by some 30.8 per cent last year.

Prices of non-landed properties, rose by 14 per cent in 2010.

The housing board has ramped up the supply of new flats to meet demand from first-time households.

It offered a total of 17,700 new flats in 2010.

This year, it plans to offer up to 22,000 new flats in areas such as Bukit Panjang, Jurong West and Punggol.

Home buyers can also look forward to flats sold under the Design Build and Sell Scheme (DBSS) and Executive Condos (ECs).

From the land parcels sold last year, there will be about 3,000 DBSS flats and 4,000 EC units.

So far, developers have launched four EC projects, and another four will be put up for sale in the coming months.

Source : Channel NewsAsia – 28 Jan 2011

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