|
|
|
This press release provides housing data for
the HDB Resale and Rental Markets based on transactions in 3rd Quarter
2007. |
|
HDB Resale Market |
|
HDB’s Resale Price Index (RPI) rose by 6.6%
in 3rd Quarter 2007 over the previous quarter, with price increases
across most flat types and towns. |
|
As at end-Sep 07, the HDB RPI has increased
by about 11% since the start of the year. Please see Annexes A-1 and A-2
for the RPI series, and Annex B for the median transacted prices of
resale flats by town and flat type1 in 3rd Quarter 2007. |
|
The median Cash-Over-Valuation (COV) amount
among all resale transactions conducted in 3rd Quarter 2007 was $17,000
(see Annex C). Cases requiring COV constituted 80% of all resale
transactions in this quarter, with 20% of resale transactions done at or
below valuation. |
|
Resale transactions decreased by 11% from
8,700 cases in 2nd Quarter 2007 to 7,700 cases in 3rd Quarter 2007,
after a 38% increase in the previous quarter (see Annex D). |
|
Upcoming Supply of New Flats for Sale |
|
HDB has observed good take-up rates for
recent public housing projects launched under the Build-To-Order (BTO)
system. |
|
To meet rising demand, HDB has launched
about 2,700 new flats under 4 BTO projects in the first three quarters
of the year. In addition to the launch of a further 916 new units on
Thursday 25 Oct, HDB has plans to offer another 3,500 new flats under
the BTO system in the next 6 months. |
|
There are also plans to release another 3
Design, Build and Sell Scheme (DBSS) sites with an estimated combined
yield of 1,500 units over this period. |
|
This new flat supply will be in addition to
flats offered under other sales exercises, such as Balloting Exercises
for surplus SERS flats, and the Bi-monthly/Monthly sales exercises for
unsold flats. HDB will provide the details of the BTO flats and DBSS
sites at the time of launch. |
|
HDB Rental Market |
|
In tandem with higher rents for private
residential properties, sublet rents for HDB flats rose in 3rd Quarter
2007. Please see Annex E for the median subletting rents of HDB flats,
by town and flat type. |
|
In 3rd Quarter 2007, 3,500 HDB flat owners
were given approval to sublet their flats (see Annex F). The total
number of HDB flats approved for subletting rose to about 16,000 units,
compared to about 14,600 units in 2nd Quarter 2007. |
|
In addition to the flats leased by
individual flat owners under the Approved Subletting Scheme, HDB
currently leases out about 1,700 vacant flats to the general public
through appointed managing agents. These flats consist largely of rental
flats that have been vacated by the former tenants under Transitional
Rental Housing Scheme and Dormitory Housing Scheme. |
|
HDB will also be leasing out flats vacated
under the Selective En bloc Redevelopment Scheme (SERS) to the general
public under a special pilot project. This will put the vacated SERS
flats to better use in the interim period, pending their redevelopment. |
|
The tender for the leasing of vacated SERS
flats at Blocks 1, 3, 5, 7 and 9 Tiong Bahru Road closed on 9 Oct 2007
and will be awarded by Nov 07. HDB will assess the response to this
pilot project, before deciding whether to expand the scheme in future. |
|
If needed, HDB has a potential supply of
about 4,000-5,000 units that can be introduced to bolster rental supply
in the HDB market over the next 3 years. |
|
The quarterly updates for the data in
Annexes A to F can be accessed from HDB InfoWEB at
http://www.hdb.gov.sg. |
|
1
Transacted prices of individual flats (by blocks and flat type) can be
found on HDB website and detailed online enquiries can be made at
http://www.hdb.gov.sg/bb33/ispm051p.nsf |
|
More..... |
|
Source:
www.hdb.gov.sg Press Release 26 Oct
2007 |
|
Related Article: |
|
-
HDB releases public housing data |
|
 |
|
Important
Notice |
|
Our FrontPage
Editions are a historical record of our Web site and reflect
the changing of the times, and also of our Web site through
time. We do not and will not update the links and stories on
these FrontPages even if they have become obsolete. |
|
FrontPage Edition: Mon 19 November 2007
All rights reserved
