Tuesday, 27 Jul 2021

HDB resale prices rise 3% in Q2, number of transactions fall amid Covid-19 curbs

SINGAPORE – Resale prices for Housing Board flats climbed for the fifth consecutive quarter, though the volume of transactions were hit by tightened Covid-19 measures.

HDB resale prices rose 3 per cent in the second quarter of this year over the previous three months, matching the increase seen in the first quarter, according to data released by the HDB on Friday (July 23). The figure is higher than HDB’s initial estimate of a 2.8 per cent rise made three weeks ago.

HDB resale volume shrank 6.8 per cent over the previous quarter, amid phase two (heightened alert) measures, when households were allowed to receive only two unique visitors each day.

The number of transactions fell to 7,063, down from 7,581 in the first quarter.

Year-on-year, however, resale transactions were 106.2 per cent higher, due to circuit breaker measures in 2020.

The number of approved applications to rent out HDB flats rose 2.8 per cent to 10,979 cases in the second quarter compared to the previous three-month period.

Approved rental applications were also 4.2 per cent higher compared with the same period last year.

As at the end of June, there were 57,755 HDB flats rented out, 0.7 per cent lower than the previous quarter.

HDB will launch about 4,900 Build-To-Order (BTO) flats in Queenstown, Kallang/Whampoa, Tampines, Jurong East and Hougang next month.

Another 3,100 to 3,600 BTO flats will be offered in Choa Chu Kang, Hougang, Jurong West, Kallang/Whampoa and Tengah in November.

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