Resale transactions of HDB flats increase by 19 per cent in third quarter

Resale transactions for Housing and Development Board (HDB) flats in Singapore increased nearly 19 per cent in the third quarter, revealed the latest statistics of HDB today.

There were 7,063 resale transactions in the third quarter of this year compared to 5,941 transactions in the previous quarter from March to June showing an increase of 18.9 per cent. On a year-on-year basis, resale transactions for the third quarter were 21.6 per cent higher.

There has been a consistent decline in the resale prices of HDB flats over the last year. Prices fell 0.7 per cent in the third quarter of 2017, 0.2 per cent in the fourth quarter of 2017 and 0.8 per cent in the first quarter of this year, although they increased up 0.1 per cent in the second quarter.

There has been a consistent decline in the resale prices of HDB flats over the last year. Photo courtesy: gov.sg
There has been a consistent decline in the resale prices of HDB flats over the last year. Photo courtesy: gov.sg

As far as the resale price index was concerned, it dipped slightly by 0.1 per cent from 131.7 in the second quarter to 131.6 in the third quarter. 

The number of approved applications to rent out HDB flats fell by 6.7 per cent, from 12,024 cases in the second quarter of 2018 to 11,216 cases in the third quarter of this year.

During the month of November, HDB will offer about 3,800 Build-To-Order (BTO) flats in Sembawang, Sengkang, Tampines, Tengah and Yishun.

Those in Sembawang, Sengkang and Yishun will have a shorter waiting time of 2.5 years, instead of the typical three to four years, to the flat buyers.

HDB
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CtoI News Desk
CtoI News Desk – CtoI

Singapore-headquartered online media company targeting Indian Diaspora across Singapore, US, UK and Dubai. Connected to India covers developments around Indians abroad, informing, engaging and entertaining its audiences.

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