HDB resale prices fall more than expected in Q4 2013

SINGAPORE — Resale prices for HDB flats fell more than expected in last three months of 2013 when compared to flash estimates, figures released today (Jan 24) show.

The Resale Price Index (RPI) fell by 1.5 per cent from 204.8 in the third quarter of last year to 201.7 in the fourth quarter. The RPI for the full year of 2013 registered a decline of 0.6 per cent, the first annual decline in eight years, since 2005.

Flash estimates released earlier this month indicated the RPI would fall by 1.3 per cent.

Resale transactions decreased by 12 per cent from 4,529 cases in Q3 2013 to 4,001 cases in Q4 2013. The number of resale transactions for the full year of 2013 was 18,100, a decrease of 28 per cent over 2012.

The median resale prices and cash-over-valuation (COV) amounts in the various towns are tabulated in Annexes C and D.

HDB RENTAL MARKET

Subletting transactions fell by 3 per cent from 7,505 cases in Q3 of last year to 7,268 cases in the fourth quarter. The total number of HDB flats approved for subletting rose 1.6 per cent from 44,966 units in Q3 2013 to 45,674 units in the following three months.

HDB will offer 24,300 BTO flats in 2014. The first batch of 3,139 BTO flats in Bukit Batok, Jurong West, Punggol, Serangoon and Woodlands were launched earlier this week, on Jan 22.

In the upcoming March BTO exercise, HDB will offer about 3,400 new flats in Sembawang, Sengkang and Yishun. The details will be available on the HDB InfoWEB when HDB launches the sales exercise.