HDB resale prices: Lowest quarterly growth since 2009 as cooling measures bite

HDB flats along Owen Road. The Resale Price Index (RPI) for the second quarter of 2013 experienced the lowest quarterly growth since the first quarter of 2009, according to Housing Board (HDB) figures released on Friday. -- ST PHOTO: ASHLEIGH SI
HDB flats along Owen Road. The Resale Price Index (RPI) for the second quarter of 2013 experienced the lowest quarterly growth since the first quarter of 2009, according to Housing Board (HDB) figures released on Friday. -- ST PHOTO: ASHLEIGH SIM

The Resale Price Index (RPI) for the second quarter of 2013 experienced the lowest quarterly growth since the first quarter of 2009, according to Housing Board (HDB) figures released on Friday.

The RPI rose slightly by 0.5 per cent from 205.5 in the first quarter of 2013 to 206.6 in the second quarter - lower than the 1.3 per cent growth in the previous quarter.

Resale transactions increased by 21 per cent from 4,335 cases the previous quarter to 5,235 cases in the second quarter.

The numbers come after the round of cooling measures in January, which included a cap on the size of bank housing loans.

HDB also revealed on Friday that subletting transactions rose 6 per cent from 7,410 cases in the previous quarter to 7,891 cases in the second quarter of this year.

The total number of HDB flats approved for subletting rose 1 per cent, from 44,274 units to 44,706.

The HDB expects to launch 25,000 Build-To-Order (BTO) flats for the whole of 2013, and has already offered 12,144 new flats in the first half of the year.

The upcoming July BTO exercise will be the first time single Singapore citizens aged 35 and over can buy a new two-room flat in non-mature estates.