HDB resale prices and transactions down in Q1 of 2016

Blocks of HDB flats in Bishan estate.
Blocks of HDB flats in Bishan estate. ST PHOTO: KUA CHEE SIONG

SINGAPORE - HDB resale transactions fell by 10.9 per cent in the first quarter of 2016, and resale prices fell 0.1 per cent in the same period, the Housing and Development Board (HDB) said on Friday (April 22).

Resale transactions fell from 4,992 in the fourth quarter of 2015 to 4,449 in the first quarter of 2016, while the Resale Price Index (RPI) dropped 0.1 per cent, from 134.8 in Q4 2015 to 134.7 in Q1 2016.

The number of applications approved for subletting of HDB flats rose by 5.8 per cent, from 10,618 in Q4 2015 to 11,239 in Q1 2016, the HDB said in a release.

As at March 31, a total of 51,052 HDB flats were sublet, a rise of 1.6 per cent over the previous quarter of 50,264 sublet units.

HDB offered 4,170 flats for sale under the February 2016 Build-To-Order (BTO) exercise. In the upcoming May 2016 sales exercise, it will offer about 4,000 BTO flats and about 5,000 balance flats.

More details will be available on the HDB InfoWEB closer to the launch of the sale exercise.