HDB resale flat prices declined 0.6% in Q3: Flash estimates

HDB resale flat prices declined 0.6% in Q3: Flash estimates

The resale price index - which provides information on the general price movements in the resale public housing market - is estimated to have slid to 132.9 from 133.7 in the previous quarter, HDB said.

SINGAPORE: Prices of resale flats declined by 0.6 per cent in the third quarter of 2017 as compared to the previous quarter, according to flash estimates released by the Housing and Development Board (HDB) on Monday (Oct 2).

The resale price index - which provides information on the general price movements in the resale public housing market - is estimated to have slid to 132.9 from 133.7 in the previous quarter, HDB said.

HDB flash estimate

The resale price index for the full quarter will be released on Oct 27.

HDB also announced that it will offer about 4,800 Build-to-Order (BTO) flats in Geylang, Punggol, Sengkang and Tampines in the November sales exercise. There will also be a concurrent Sale of Balance Flats exercise.

This will bring the total BTO flat supply for this year to about 17,500 units.

PropNex Realty CEO Ismail Gafoor said the continual ample supply of BTO flats has caused muted movement of public housing prices in the last three years. 

Predicting that 2017 will "witness an overall price movement of about -1 to -1.5 per cent", Mr Ismail also said that prices of public housing in the second half of 2018 will likely see an upturn. 

Source: CNA/nc

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