Resale prices for public housing hit a record high in the third quarter

Resale prices for Housing and Development Board (HDB) flats hit a record high in the third quarter of this year. 

HDB's Resale Price Index (RPI) rose from 194 in the second quarter of this year to 197.9 in the third quarter. 

This represents an increase of two per cent over the previous quarter, the same as that of the flash estimate released earlier this month. 

Total growth for the first three quarters of this year is 3.9 per cent. 

This is much lower than the annual RPI growth of 14.1 per cent in 2010 and 10.7 per cent last year. 

The volume of resale transactions also fell for the first time in 12 months. 

The number of transactions went down by about 6 per cent from about 7 thousand cases in the second quarter to about 6,560 cases in the third. 

In the rental market, subletting transactions rose by about four per cent. 

The number of cases increased from about 6,900 in the second quarter to about 7,140 cases in the third quarter. 

The total number of HDB flats approved for subletting also rose to 42,920 units in the third quarter, compared with 41,800 units in the second.