Housing Board resale flat prices drop 1.3 per cent in fourth quarter of 2013: HDB figures

Prices of Housing Board (HDB) resale flats fell 1.3 per cent in the fourth quarter of 2013, according to estimates released by the national housing authority on Thursday. -- ST FILE PHOTO: LIM YAOHUI
Prices of Housing Board (HDB) resale flats fell 1.3 per cent in the fourth quarter of 2013, according to estimates released by the national housing authority on Thursday. -- ST FILE PHOTO: LIM YAOHUI

Prices of Housing Board (HDB) resale flats fell 1.3 per cent in the fourth quarter of 2013, according to estimates released by the national housing authority on Thursday.

This was the second consecutive quarter in which resale prices have declined. They dropped 0.9 per cent in the previous quarter, the first decline since the start of 2009 when a deep recession hit.

More detailed public housing data for the fourth quarter will be released on Jan 24.

HDB will offer 24,300 Build-To-Order (BTO) flats this year. The board will reduce the supply of new 3-room and larger flats by 18 per cent from 22,600 units last year to 18,600 units this year. The number of 2-room BTO flats in non-mature estates, however, will be increased from 2,600 units in 2013 to 5,000 units.