HDB resale prices declined by 6% last year

SINGAPORE — Prices for resale flats fell by 6 per cent last year, according to the latest Housing Development Board (HDB) data released today (Jan 23).

The number of resale transactions for the whole year also decreased by 4.3 per cent, although there was a 2.7 percent rise from the third to fourth quarter.

HDB today released the fourth quarter results for the resale and rental markets. The Resale Price Index (RPI) fell by 1.5 percent in the fourth quarter of last year, compared to the previous quarter.

Meanwhile, there was a 16.2 per cent increase in subletting approvals, up from 8,923 cases in the third quarter to 10,365 cases in the fourth quarter. The total number of HDB flats being sublet also increased by 0.9 per cent, from 47,707 units in September last year to 48,120 units in December.

In the same press release, the HDB announced that it will launch 16,900 Build-To-Order (BTO) flats this year, including flats in new areas such as Bidadari and Punggol Northshore. The BTO exercises will be conducted quarterly from February.