HDB resale flat prices declined 0.5% in Q1

SINGAPORE: Resale prices of Housing and Development Board (HDB) flats declined by 0.5 per cent in the first quarter of this year compared to the previous quarter.

The resale price index – which provides information on the general price movements in the resale public housing market – slid from 134.6 in the fourth quarter of last year to 133.9 in the first quarter of 2017, according to HDB statistics released on Friday (Apr 28).

Resale transactions fell by 9.6 per cent, HDB said. The first quarter of the year saw 4,530 transactions, compared to 5,012 cases in the fourth quarter of last year.

Four-room flats saw the highest number of resale applications – 1,857, followed by three-room flats, which recorded 1,210 applications.

In the HDB rental market, the number of applications approved for subletting saw a drop of 6.5 per cent, from 10,678 cases in the fourth quarter to 9,981 in the first quarter. As of Mar 31, 2017, 53,360 HDB flats were sublet, an increase of 0.8 per cent from the previous quarter.

Source: http://www.channelnewsasia.com/news/singapore/hdb-resale-flat-prices-declined-0-5-in-q1-8798458

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