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Flash Estimate of 1st Quarter 2010 Resale Price Index
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Date issued : 01 Apr 2010
Resale Price Index
HDB’s flash estimate of the 1st Quarter 2010 Resale Price Index (RPI) is 154.9, an increase of 2.7% over 4th Quarter 2009, compared to the 3.9% increase from 3rd Quarter to 4th Quarter 2009. The RPI has risen by 3.5% per annum on average between 1st Quarter 2000 and 1st Quarter 2010. The historical RPI series is at Annexes A-1 (PDF 15KB) and A-2 (PDF 15KB).
2Resale volume has trended downwards. The estimated number of resale transactions for the full quarter is about 8,500. This is about 5% lower compared to 4th Quarter 2009 which registered 8,926 cases.
3The median Cash-Over Valuation (COV) amount for 1st Quarter 2010 (up to 21st March 2010) has stabilised at $25,000, an increase of $1,000 over 4th Quarter 2009. In contrast, the median COV doubled from $12,000 in 3rd Quarter 2009 to $24,000 in 4th Quarter 2009.
4The Resale Price Index provides information on the general price movements in the public residential market. Transacted prices of individual flats (by block and flat type) can be found on HDB’s website and detailed online enquiries can be made at http://services2.hdb.gov.sg/webapp/BB33RTIS/BB33PReslTrans.jsp
5The RPI for the full quarter and more detailed public housing data for 1st Quarter 2010 will be released on 23 April 2010.
Upcoming New Flat Supply
6HDB will ensure an adequate supply of new flats to meet housing demand. At least 12,000 new Build-To-Order (BTO) flats will be launched this year, with launches scheduled monthly for the next few months. The BTO supply will be supplemented by flats under the Design, Build and Sell Scheme (DBSS) as well as Executive Condominiums (EC) for the higher income buyers.
7In 1st Quarter 2010, HDB offered 3,700 BTO flats in various towns such as Choa Chu Kang, Hougang and Woodlands. HDB also awarded the tender of two EC housing sites in Sengkang and Yishun with a combined yield of about 900 units, and launched the tender of one DBSS housing site in Yishun with an estimated yield of about 700 units.
8For the month of April 2010, flat buyers can look forward to the launch of 1,200 BTO flats in Punggol. From May to September 2010, HDB will launch another 7,400 BTO flats, bringing the total number of flats launched since January to 12,300. The upcoming projects will have a good geographical spread, covering areas such as Sengkang, Jurong West, Yishun, Bukit Panjang and Woodland.
9If demand remains strong, HDB will launch more BTO projects in 4Q2010. HDB will continue to monitor the market closely and adjust the flat supply accordingly. |
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