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HDB resale prices unchanged in 2019 after climbing 0.4% in last quarter

HDB resale prices unchanged in 2019 after climbing 0.4% in last quarter

A view of HDB blocks against the Singapore skyline. (File photo: Jeremy Long)

SINGAPORE: Prices of resale flats remained unchanged for the whole of 2019, after inching up 0.4 per cent in the last quarter of the year, official flash estimates showed.

The resale price index in the October to December period is estimated to have climbed to 131.4 from 130.9 in the third quarter, according to data released by the Housing and Development Board (HDB) on Thursday (Jan 2).

READ: Private property prices rise 2.5% in 2019, down from 7.9% in previous year

The index provides information on the general price movements in the resale public housing market. Figures for the full quarter, together with more detailed public housing data such as resale and rental transactions, will be released on Jan 23.

The fourth quarter’s 0.4 per cent rise came after prices inched up 0.1 per cent in the third quarter, following four consecutive quarters of decline.

READ: HDB to build more new flats next year to meet greater demand

National Development Minister Lawrence Wong said in December that more flats will be built in 2020 to meet greater demand for public housing. Between 16,000 and 17,000 flats will be launched this year, up from 14,600 in 2019, he said.

HDB will launch 3,000 Build-to-Order (BTO) flats in Sembawang and Toa Payoh in February, its first sale exercise this year.

In May, it will launch about 3,700 BTO flats in Choa Chu Kang, Pasir Ris, Tampines and Tengah. Of these, the flats in Choa Chu Kang have shorter waiting time, said HDB.

Source: CNA/cy(aj)

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