Tag Archives: Resale Price Index

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





HDB resale prices resuming uptrend: SRX

Resale prices for HDB flats are showing signs of picking up, with latest data pointing to a 2-per-cent rise in the last two months, according to the Singapore Real Estate Exchange (SRX).

The median resale price for HDB flats islandwide increased to S$438,800 in the last two months from S$430,000 in the first quarter of the year, the SRX said yesterday.

The SRX is a consortium of 11 leading property agencies including ERA, Savills and OrangeTee.

Mr Tan Kok Keong, director of research and consultancy at OrangeTee, said prices would remain resilient for the rest of the year but would likely see slower growth.

“I will expect low single-digit increase for the rest of the year,” he said.

The SRX figures suggest the market is resuming its uptrend after official data from the HDB published in April showed resale prices rising at their slowest pace in five-and-a-half years.

The HDB’s resale price index (RPI) rose 0.6 per cent in the first three months of the year from the fourth quarter of last year, lower than the 1.7-per-cent increase in the previous quarter and at the slowest pace of growth since the third quarter of 2006.

Analysts said a slew of recent Government measures had helped to stabilise the RPI, including the ramped-up supply of new Build-to-Order (BTO) flats, the increased allocation to second-timers for such flats, as well as the higher income ceilings for direct purchases.

But property agency DWG noted earlier that “the litmus test for the HDB resale market will come three to four years down the road when these BTO flats and ECs are completed and there is a real urgency for these home buyers to sell their existing HDB flats within six months.”

Meanwhile, the private resale market is also on track for a stronger second quarter.

SRX data showed prices for private resale non-landed in the core central region rose 5.9 per cent over the last two months to S$1,733 per sq ft from S$1,636 per sq ft.

Source : Today – 2012 Jun 8