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[h=2]Flash estimates of HDB resale prices hit all-time high in Q1 2013[/h]
April 1st, 2013 |
Author: Editorial
The Housing and Development Board (HDB) has released today (1 Apr) its Resale Price Index (RPI) flash estimates for Q1 2013, which now stands at 205.4 representing a 1.2 percent increase compared to 202.9 for the previous quarter i.e. Q4 2012.
The base index of 100 started in 4Q 1998. Which means to say, 15 years later with the index at 205.4 in 1Q 2013, the prices of HDB flats have increased by 105.4% on average. Not bad for a slightly more than 100% return for a 15-year “investment” – but the family can only gain if they decide to sell off the HDB flat and live on the street. Otherwise, they would still need to buy another equally expensive unit to stay.
The continued increase in public housing prices comes even with a greater supply of new flats as announced by Minister Khaw.
According to HDB, 34,237 flats were offered in 2012, comprising 27,084 units under the Build-to-Order (BTO) scheme and 7,153 homes from the Sales of Balance Flats (SBF) exercise.
And next month, HDB will offer 4,850 BTO flats in Choa Chu Kang, Hougang, Jurong West, Sembawang and Woodlands. An additional 3,000 flats will be launched in a concurrent SBF exercise. For 2013 as a whole, HDB said it will launch a total of 25,000 BTO flats.
The HDB resale price index is now at a historical peak of 205.4 (flash estimate).
HDB said the RPI for the full quarter and more detailed public housing data for 1st Quarter 2013 will be released on 26 April 2013.
.
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The Housing and Development Board (HDB) has released today (1 Apr) its Resale Price Index (RPI) flash estimates for Q1 2013, which now stands at 205.4 representing a 1.2 percent increase compared to 202.9 for the previous quarter i.e. Q4 2012.
The base index of 100 started in 4Q 1998. Which means to say, 15 years later with the index at 205.4 in 1Q 2013, the prices of HDB flats have increased by 105.4% on average. Not bad for a slightly more than 100% return for a 15-year “investment” – but the family can only gain if they decide to sell off the HDB flat and live on the street. Otherwise, they would still need to buy another equally expensive unit to stay.
The continued increase in public housing prices comes even with a greater supply of new flats as announced by Minister Khaw.
According to HDB, 34,237 flats were offered in 2012, comprising 27,084 units under the Build-to-Order (BTO) scheme and 7,153 homes from the Sales of Balance Flats (SBF) exercise.
And next month, HDB will offer 4,850 BTO flats in Choa Chu Kang, Hougang, Jurong West, Sembawang and Woodlands. An additional 3,000 flats will be launched in a concurrent SBF exercise. For 2013 as a whole, HDB said it will launch a total of 25,000 BTO flats.
The HDB resale price index is now at a historical peak of 205.4 (flash estimate).
HDB said the RPI for the full quarter and more detailed public housing data for 1st Quarter 2013 will be released on 26 April 2013.
.
Join our TRE facebook page here: http://www.facebook.com/TREmeritus