Prices of HDB resale flats continue to
rise
Posted: 01 April 2010 1331 hrs
SINGAPORE: Prices of HDB resale flats have continued to
rise. According to the Housing Development Board's (HDB's) flash
estimates, prices rose 2.7 per cent in the first quarter of this
year, compared to the last quarter of 2009.
The rise was more moderate compared to the almost 4 per cent
increase in the fourth quarter of 2009. It is the fourth
consecutive quarter of price increase. Resale volume has, however,
trended downwards.
The estimated number of resale transactions for the full quarter is
about 8,500. This is about 5 per cent lower compared to the fourth
quarter of 2009, which registered 8,926 cases.
HDB said the median Cash-Over-Valuation (COV) amount for the first
quarter was S$25,000, an increase of S$1,000 over the fourth
quarter. HDB said it will ensure an adequate supply of new flats to
meet housing demand.
At least 12,000 new Build-To-Order (BTO) flats will be launched
this year, with launches scheduled monthly for the next few months.
This will be supplemented by flats under the Design, Build and Sell
Scheme (DBSS) as well as Executive Condominiums (EC) for the higher
income buyers.
If demand remains strong, HDB will launch more BTO projects in the
fourth quarter of this year.
- CNA/sc