Resale prices of HDB flats fall 0.5 per cent in first quarter

There is good news for Singaporeans as the resale prices of Housing and Development Board (HDB) flats have fallen by 0.5 per cent in the first quarter of 2017 compared to the previous quarter. Further, HDB will offer many Build-To-Order (BOT) flats and balance flats for sale from the coming month of May.

resale prices of Housing and Development Board (HDB) flats have fallen by 0.5 per cent in the first quarter
Resale prices of HDB flats have fallen by 0.5 per cent in the first quarter of 2017. Photo courtesy: hdbdiy.com

According to the latest statistics released by HDB on Friday, “The resale price index - which provides information on the general price movements in the resale public housing market - slid from 134.6 in the fourth quarter of last year to 133.9 in the first quarter of 2017.”

It further said, “The first quarter of the year saw 4,530 transactions, compared to 5,012 cases in the fourth quarter of last year.”

Further, maximum number of applications were received for the four-room flats which numbered about 1,857 followed by three-room flats which recorded 1,210 applications.

In addition to this, in the HDB rental market, the number of applications approved for subletting saw a drop of 6.5 per cent, from 10,678 cases in the fourth quarter to 9,981 in the first quarter. As of Mar 31, 2017, 53,360 HDB flats were sublet, an increase of 0.8 per cent from the previous quarter.

HDB has also informed that it will offer about 4,600 BTO flats and about 3,000 balance flats for sale in May.

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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