Channel NewsAsia
Updated: 07/26/2013 10:02 | By Channel NewsAsia

HDB resale prices rise 0.5% in Q2 2013

HDB resale prices rise 0.5% in Q2 2013


HDB resale prices rise 0.5% in Q2 2013

SINGAPORE: The Resale Price Index (RPI) for HDB flats rose slightly by 0.5 per cent from 205.5 in the first quarter of 2013 to 206.6 in the second quarter of 2013.

This is lower than the 1.3-per cent growth in the previous quarter and is the lowest quarterly growth since first quarter of 2009.

Resale transactions increased by 21 per cent from 4,335 cases in the first quarter of 2013 to 5,235 cases in the second quarter of 2013.

Bukit Merah town saw the highest median resale price of S$412,000 for a three-room flat and S$775,000 for a five-room flat.

For a four-room flat, the highest median resale price was S$710,000 in Queenstown.

As for executive flats, the highest median resale price was S$695,000 in Tampines.

The highest Cash-Over-Valuation (COV) for a five-room flat was S$80,000 in Bishan.

For a three-room flat, the highest COV was S$35,000 in Marine Parade.

The highest COV for a four-room flat was S$60,000 in Queenstown.

For an executive flat, the highest COV was S$59,000 in Hougang.

Subletting transactions rose 6 per cent from 7,410 cases in the first quarter of 2013 to 7,891 cases in the second quarter of 2013.

The total number of HDB flats approved for subletting rose 1.0 per cent from 44,274 units in the first quarter of 2013 to 44,706 units in the second quarter in 2013.

In July 2013, HDB will offer about 3,800 Build-To-Order (BTO) flats in Bukit Merah, Sengkang and Yishun.

Starting from July 2013, eligible single Singapore citizens will have an additional housing option of buying a new two-room flat in non-mature estates.   - CNA/xq

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