HDB resale prices fall 1.4% in Q2

The prices of Housing Board resale flats fell more steeply in the second quarter of this year than earlier estimated, even as the number of resale transactions increased. -- ST PHOTO: CAROLINE CHIA
The prices of Housing Board resale flats fell more steeply in the second quarter of this year than earlier estimated, even as the number of resale transactions increased. -- ST PHOTO: CAROLINE CHIA

SINGAPORE - The prices of Housing Board (HDB) resale flats fell more steeply in the second quarter of this year than earlier estimated, even as the number of resale transactions increased.

HDB resale values dropped 1.4 per cent in the quarter from the first three months of the year, the HDB said on Friday.

Flash estimates released early this month had indicated a decline of 1.3 per cent in HDB resale values for the April to June period, following a 1.6 per cent fall in the first quarter.

But the number of resale flats sold rose 16 per cent in the second quarter to 4,389 transactions.

HDB subletting transactions dipped slightly by 0.4 per cent to 8,455 deals in the second quarter, from 8,485 in the first three months.

The HDB also said it will step up the supply of flats in the second half of this year. It will offer another 12,700 build-to-order flats and about 3,000 balance flats, which are mostly under construction or near completion.

This comes on top of 9,707 build-to-order flats and 3,383 balance flats in the first six months of the year.