HDB resale flats went up by another 4 per cent

Updated: 22/10/2010

The prices of HDB resale flats went up by another 4 per cent in the third quarter

The Housing and Development Board said, however, that the number of resale transactions fell by about 10 per cent to some 8,200 cases from the second quarter. 

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The prices of HDB resale flats went up by another 4 per cent in the third quarter. 

The Housing and Development Board said, however, that the number of resale transactions fell by about 10 per cent to some 8,200 cases from the second quarter. 

This, it said, was largely due to the 25 per cent drop in monthly resale volume from August to September. 

HDB said the median Cash-Over-Valuation amount among all resale transactions remained at 30 thousand dollars in the three months to September. 

And the proportion of resale cases transacting above valuation also remained at 96 per cent. 

HDB said as most of the transactions for the third quarter were submitted before the announcement of the property measures on 30th August, the impact of the measures is not fully reflected in the data. 

It said it will continue to monitor the prices and volume of resale transactions, and update the figures again at the end of the 4th Quarter 

Separately, HDB said it will continue to ramp up its new flat supply significantly to meet the demand from first-time households. 

1,320 flats under the Build-to-Order or BTO Scheme in Bukit Panjang and Sengkang will be launched on 26th October. 

HDB will also launch about 2,200 flats in Yishun and Punggol in November/December. 

This will bring the total BTO flat supply for 2010 to about 16,100, compared to the 9,000 BTO flats in 2009. 

Together with the August 2010 Sale of Balance Flats, the total new flat supply for 2010 will reach 17,700. 

HDB will also release more land for the development of Design, Build and Sell Scheme flats and Executive Condominiums units to provide choices for higher-income households.