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