32.5 per cent jump in resale transactions of HDB flats in second quarter

There was an increase of 32.5 per cent in the resale transactions of the Housing and Development Board (HDB) flats in Singapore for the second quarter from April to June.

Releasing the figures today, HDB said, “Resale transactions rose by 32.5 per cent, from 4,530 cases in first quarter to 6,001 cases in second quarter of this year.”

There was a marginal fall in prices as it dropped by just 0.1 per cent, with the Resale Price Index inching down from 133.9 to 133.7 in the second quarter.

About 3,850 BTO flats will be launched in Bukit Batok and Sengkang during August.
About 3,850 BTO flats will be launched in Bukit Batok and Sengkang during August. Photo courtesy: gov.sg

In addition to this, more home owners also sublet their flats, with the number of approved subletting applications rising by 9.5 per cent from 9,981 cases to 10,929 cases.

HDB said, “As of June 30, there were 53,540 HDB flats being sublet, an increase of 0.3 per cent from the first quarter.”

Giving information about the sale of Build-To-Order (BTO) flats, HDB said, “About 3,850 BTO flats will be launched next month in Bukit Batok and Sengkang.”

Further, about 1,394 unsold balance flats will be offered under the first Re-Offer of Balance Flats (ROF) exercise.

The ROF exercise pools together all flats that remain unsold after a Sale of Balance Flats exercise. This is aimed at helping those with more urgent housing needs, or are less particular about location and attributes to have quicker access to a flat, HDB said.

In the ROF exercise, at least 95 per cent of the flats will be set aside for first-timer families, and up to 5 per cent for second-timers.

Author
Ashraf Jamal
Ashraf Jamal – Senior Writer

Ashraf Jamal brings a rare depth to writing equipped with a degree in journalism, a postgraduate degree in political science, and a degree in law from the Allahabad University. His experience includes editing and publishing the Northern India Patrika and writing for Times of India for almost a decade covering just about any topic under the sun including NRIs and Indian diaspora.

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