More HDB resale deals in third quarter amid falling prices

HDB flats in Toa Payoh. The resale price index of HDB flats fell by 1.7 per cent while resale transactions increased by 2.8 per cent in the third quarter of this year. -- PHOTO: ST FILE 
HDB flats in Toa Payoh. The resale price index of HDB flats fell by 1.7 per cent while resale transactions increased by 2.8 per cent in the third quarter of this year. -- PHOTO: ST FILE 

SINGAPORE - As Housing Board resale prices continued to fall, more flats changed hands in the third quarter of the year, according to latest figures from the HDB on Friday.

There were 4,513 resale deals from July to September, up 2.8 per cent from the previous quarter. It was just shy of the 4,529 deals closed in the third quarter of 2013.

This was the second consecutive quarter of transaction growth. The rise in deals came amid continued falling prices. In the fifth straight quarter of price decline, the HDB resale price index fell 1.7 per cent.

The HDB rental market also saw more activity. There were 8,923 subletting transactions in the third quarter, up 5.5 per cent from 8,455 previously. The total number of HDB flats approved for subletting rose by 1.5 per cent from 47,015 units to 47,707 units.

So far this year, the HDB has launched 18,178 Build-To-Order flats and 3,383 balance flats for sale, and is on track to launch a total of 22,400 BTO flats for the whole of 2014. In November, about 4,290 BTO flats will be offered in Sembawang, Sengkang, Tampines and Yishun. An additional 3,000 balance flats will be offered at the same time.

janiceh@sph.com.sg