HDB’s Q2 Resale Price Index up 1.3%

The Housing and Development Board’s (HDB) Resale Price Index (RPI) in the second quarter of this year is 194, an increase of 1.3 per cent over the previous quarter when it was 191.6.

According to data released by HDB, there were 7,000 resale transactions in the second quarter, an increase of 19 per cent compared to the first quarter when there were 5,900 cases.

Also released – data on Median Resale prices, Median Cash-Over-Valuation (COV), Median Subletting Rents and the number of subletting approvals.

The highest median resale price for a 3-room flat was S$440,000 in Central Town. For 4-room flat, it was S$638,000 in Queenstown. S$750,500 was the highest median resale price for a 5-room flat in Bukit Merah Town. As for an executive flat, it was S$680,000 in Serangoon Town.

The highest median Cash-Over-Valuation (COV) for a 3-room flat was S$35,000 in Central Town.

For 4-room flat, it was S$48,500 in Toa Payoh Town. The highest median COV for a 5-room flat was S$54,000 in Geylang, while it was S$55,000 for an executive flat in Hougang.

The highest median subletting rent for a 3-room flat was S$2,300 in Central Town and for a 4-room flat it was S$2,950 in Queenstown. As for a 5-room flat it was S$3,200 in Bukit Merah Town and for an executive flat it was S$2,800 in Hougang.

Subletting transactions rose by about 3 per cent from 6,700 cases in the first quarter to 6,900 cases in the second quarter.

The total number of HDB flats approved for subletting rose to 41,800 units in the second quarter 2012, compared to 41,200 units in the first quarter.

In July 2012, HDB will offer 4,200 new Build-To-Order flats in seven projects. These will be in Bukit Merah, Choa Chu Kang, Clementi, Geylang, and Punggol.

HDB said a project in Bedok originally planned for launch in July 2012 has been postponed to finalise the design for launch. This site will be launched later this year.

HDB added that it is on track to launch 25,000 flats this year.

Source : Channel NewsAsia – 27 Jul 2012





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