HDB 3rd Quarter 2011 Resale Index Up 3.8%, COV Reaches $68K For Executive Units 28 Oct 2011

HDB’s Resale Price Index (RPI) rose from 180.3 in 2nd Quarter 2011 to 187.2 in the 3rd Quarter 2011, an increase of 3.8% over the previous quarter. Highest COV commanded for 3 room is Bukit Merah ($34,000), 4 room is Bishan ($52,000), 5 room is Bishan ($66,500) and Executive is Tampines ($68,000).

HDB will be releasing 4,200 BTO units in Nov 2011.

This press release provides housing data for the HDB resale and rental market in 3rd Quarter 2011.

HDB Resale Market

HDB’s Resale Price Index (RPI) rose from 180.3 in 2nd Quarter 2011 to 187.2 in the 3rd Quarter 2011. This is an increase of 3.8% over the previous quarter (see Annex A (PDF 16KB)).

Resale transactions fell by about 10%, from 6,581 cases in 2nd Quarter 2011 to 5,903 cases in 3rd Quarter 2011 (see Annex B (PDF 10KB)).

The median resale prices and Cash-Over-Valuation (COV) amounts in the various towns are tabulated in Annexes C (PDF 17KB) and D (PDF 17KB).

Upcoming Sales Launches

In Nov 2011, HDB will be launching 4,200 BTO flats for sale in various towns such as Bedok, Bukit Panjang, Hougang, Punggol and Yishun.

Including units sold under the Sale of Balance Flats (SBF) Exercise in Sep 2011, HDB’s total flat supply for 2011 would be 28,000 units. For 2012, prospective flat buyers can look forward to another 25,000 BTO flats. More details will be given at their launch.

HDB Rental Market

The median subletting rents in the various towns in 3rd Quarter 2011 are tabulated in Annex E (PDF 17KB).

Subletting transactions fell by 9% from 7,177 cases in 2nd Quarter 2011 to 6,549 cases in 3rd Quarter 2011 (see Annex F (PDF 9KB)). The total number of HDB flats approved for subletting rose to about 39,100 units in 3rd Quarter 2011, compared to about 37,900 units in 2nd Quarter 2011.

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