This press release provides housing data for the HDB resale and rental market in 2nd Quarter 2011.
HDB Resale Market
HDB’s Resale Price Index (RPI) rose from 174.8 in 1st Quarter 2011 to 180.3 in the 2nd Quarter 2011. This is an increase of 3.1% over the previous quarter (see Annex A (PDF 16KB)).
Resale transactions increased by about 6%, from 6,228 cases in 1st Quarter 2011 to 6,581 cases in 2nd Quarter 2011 (see Annex B). Resale transactions increased by about 6%, from 6,228 cases in 1st Quarter 2011 to 6,581 cases in 2nd Quarter 2011 (see Annex B). (PDF 10KB)
The imbalance in supply and demand for resale flats accounted for these price movements. We are increasing the supply of new flats to provide more options for eligible buyers.
Upcoming Sales Launches
HDB has offered about 15,500 new flats under the Build-To-Order (BTO) system so far, and is on track to deliver 25,000 BTO flats for the whole of 2011. The remaining 9,500 new flats will be released over two BTO launches before year end. In addition, HDB is preparing a Sale of Balance Flats Exercise to widen the choices for flat buyers.
HDB Rental Market
The median subletting rents in the various towns in 2nd Quarter 2011 are tabulated in Annex E (JPG 196KB).
Subletting transactions rose by 13% from 6,365 cases in 1st Quarter 2011 to 7,177 cases in 2nd Quarter 2011 (see Annex F (PDF 9KB)). The total number of HDB flats approved for subletting rose to about 37,900 units in 2nd Quarter 2011, compared to about 36,400 units in 1st Quarter 2011.
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