HDB resale transactions jump 32.5% in Q2, despite prices remaining flat

SINGAPORE — The resale market for Housing and Development Board (HDB) flats saw a jump in the number of transactions last quarter, despite prices remaining mostly unchanged, according to figures released by HDB on Friday (Jul 28).

Resale transactions rose 32.5 per cent in the April to June period, rising from 4,530 to 6,001 transactions. Prices fell by just 0.1 per cent, with the Resale Price Index inching down from 133.9 to 133.7 in the second quarter.

More home owners also sublet their flats, with the number of approved subletting applications rising by 9.5 per cent from 9,981 cases to 10,929 cases.
As of Jun 30, there were 53,540 HDB flats being sublet, an increase of 0.3 per cent from the first quarter.

About 3,850 Build-To-Order (BTO) flats will be launched next month in Bukit Batok and Sengkang, and 1,394 unsold balance flats under the first Re-Offer of Balance Flats (ROF) exercise, HDB said.

The ROF exercise pools together all flats that remain unsold after a Sale of Balance Flats exercise. This is aimed at helping those with more urgent housing needs, or are less particular about location and attributes to have quicker access to a flat, HDB said.
At least 95 per cent of the flats in the ROF exercise will be set aside for first-timer families, and up to 5 per cent for second-timers.

Source: http://www.channelnewsasia.com/news/business/hdb-resale-transactions-jump-32-5-in-q2-despite-prices-remaining-9071864

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