Resale prices for HDB flats up 0.1% in Q2
Posted 01 Jul 2016 08:53
SINGAPORE: Resale prices of flats is up 0.1 per cent in the second quarter of the year compared to the previous quarter, according to flash estimates from the Housing and Development Board (HDB) released on Friday (Jul 1).
The decline comes after the Resale Price Index (RPI) for the first quarter dipped 0.1 per cent from the previous quarter.
The RPI for the second quarter of 2016 came in at 134.8, down marginally from the previous quarter’s 134.7, the HDB said. The index provides information on the general price movements in the resale public housing market.
The HDB plans to launch about 5,000 Build-To-Order (BTO) flats in August in Hougang, Sembawang, Tampines and Yishun.
- CNA/kk
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Showing posts with label resale. Show all posts
Showing posts with label resale. Show all posts
Saturday, July 2, 2016
Thursday, November 5, 2015
HDB resale prices remain flat in October: SRX Property
HDB resale prices remain flat in October: SRX Property
Prices for 4-room and 5-room flats fell while prices for 3-room and Executive flats rose.
POSTED: 05 Nov 2015 12:16 UPDATED: 05 Nov 2015 12:57
SINGAPORE: The resale prices of Housing and Development Board (HDB) flats were unchanged month-on-month in October, the Singapore Real Estate Exchange (SRX Property) said on Thursday (Nov 5).
The resale prices for 3-room flats and Executive flats rose by 0.7 and 0.9 per cent, respectively, while the resale prices for 4- and 5-room flats fell 0.8 and 0.1 per cent, respectively.
Overall, prices have declined 2.6 per cent from the same period a year ago and 11.7 per cent from the peak in April 2013, SRX Property said.
A total of 1,745 HDB resale flats were sold last month, a 16 per cent rise from the 1,504 transacted units the previous month. Compared with a year ago, resale volume was up 12.4 per cent, SRX Property said.
The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, was S$1,000 last month.
For HDB towns with more than 10 resale transactions, Bishan reported the highest median TOX of S$15,000, followed by Queenstown with S$7,000. The lowest median TOX were in Central Area and Hougang, at negative S$17,000 and negative S$5,500, respectively.
- CNA/av
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Prices for 4-room and 5-room flats fell while prices for 3-room and Executive flats rose.
POSTED: 05 Nov 2015 12:16 UPDATED: 05 Nov 2015 12:57
SINGAPORE: The resale prices of Housing and Development Board (HDB) flats were unchanged month-on-month in October, the Singapore Real Estate Exchange (SRX Property) said on Thursday (Nov 5).
The resale prices for 3-room flats and Executive flats rose by 0.7 and 0.9 per cent, respectively, while the resale prices for 4- and 5-room flats fell 0.8 and 0.1 per cent, respectively.
Overall, prices have declined 2.6 per cent from the same period a year ago and 11.7 per cent from the peak in April 2013, SRX Property said.
A total of 1,745 HDB resale flats were sold last month, a 16 per cent rise from the 1,504 transacted units the previous month. Compared with a year ago, resale volume was up 12.4 per cent, SRX Property said.
The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, was S$1,000 last month.
For HDB towns with more than 10 resale transactions, Bishan reported the highest median TOX of S$15,000, followed by Queenstown with S$7,000. The lowest median TOX were in Central Area and Hougang, at negative S$17,000 and negative S$5,500, respectively.
- CNA/av
- wong chee tat :)
4-room flat at Pinnacle@Duxton sold for $990,000
4-room flat at Pinnacle@Duxton sold for $990,000
AsiaOneMonday, Nov 02, 2015
The Straits Times
SINGAPORE - A four-room resale flat at The Pinnacle@Duxton in Tanjong Pagar was recently sold for a record-breaking amount of $990,000, according to Shin Min Daily News.
The evening daily reported that the 93 sq metre unit, which is located on the 43rd to 45th storey, was sold in September.
This is the most expensive four-room HDB flat sold to date. According to Shin Min Daily News, a total of 20 four-room units were sold this year, with five units being sold for $950,000.
Despite property cooling measures, a total of seven five-room units were sold this year for at least $1 million per unit.
Head of investment sales at PropNex Realty, Mr Charles Chua, said that it is only a matter of time before four-room flats at the Pinnacle@Duxton are sold for $1 million.
"Pinnacle@Duxton flats are benchmarked against private property prices, not public housing. If a buyer has a budget of $1 million, instead of buying a private property in Pasir Ris, he might find a unit near the city to be more attractive," said Mr Chua.
The most expensive Pinnacle@Duxton unit sold this year was a five-room flat which went for a record $1.06 million in April.
Transactions at The Pinnacle@Duxton have set new records this year after the first batch of owners fulfilled the five-year minimum occupation period in December last year and were allowed to sell their flats.
According to The Straits Times, at the project's launch in 2004, new four-room flats were priced from $289,200 to $380,900, and five-room flats were from $345,100 to $439,400.
- wong chee tat ):
AsiaOneMonday, Nov 02, 2015
The Straits Times
SINGAPORE - A four-room resale flat at The Pinnacle@Duxton in Tanjong Pagar was recently sold for a record-breaking amount of $990,000, according to Shin Min Daily News.
The evening daily reported that the 93 sq metre unit, which is located on the 43rd to 45th storey, was sold in September.
This is the most expensive four-room HDB flat sold to date. According to Shin Min Daily News, a total of 20 four-room units were sold this year, with five units being sold for $950,000.
Despite property cooling measures, a total of seven five-room units were sold this year for at least $1 million per unit.
Head of investment sales at PropNex Realty, Mr Charles Chua, said that it is only a matter of time before four-room flats at the Pinnacle@Duxton are sold for $1 million.
"Pinnacle@Duxton flats are benchmarked against private property prices, not public housing. If a buyer has a budget of $1 million, instead of buying a private property in Pasir Ris, he might find a unit near the city to be more attractive," said Mr Chua.
The most expensive Pinnacle@Duxton unit sold this year was a five-room flat which went for a record $1.06 million in April.
Transactions at The Pinnacle@Duxton have set new records this year after the first batch of owners fulfilled the five-year minimum occupation period in December last year and were allowed to sell their flats.
According to The Straits Times, at the project's launch in 2004, new four-room flats were priced from $289,200 to $380,900, and five-room flats were from $345,100 to $439,400.
- wong chee tat ):
Friday, April 10, 2015
HDB resale flat prices continue to fall
HDB resale flat prices continue to fall
BY MATTHIAS TAY
PUBLISHED: 1:23 PM, APRIL 9, 2015
SINGAPORE – Prices of Housing and Development Board resale flats continued to fall, with the latest report from SRX Property showing that there was a 0.8 per cent drop in prices last month compared to February.
The decline was 0.8 per cent in non-mature estates and 0.9 per cent in mature estates. Compared to March last year, prices are down 6.6 per cent, said SRX Property today (April 9).
Meanwhile, transaction volume rose 17.5 per cent, from 1,148 flats in February to 1,349 flats last month.
Flats continued to be sold below their estimated market value, with the median Transaction Over X-Value – SRX’s measure of whether people are underpaying or overpaying for properties – at negative S$3,000. This however is improved from the negative S$4,000 seen in February.
Resale flats in areas like Bukit Merah and Serangoon were sold above their estimated market value while flats in Hougang, Yishun and Choa Chu Kang below their estimated market value.
- wong chee tat :)
BY MATTHIAS TAY
PUBLISHED: 1:23 PM, APRIL 9, 2015
SINGAPORE – Prices of Housing and Development Board resale flats continued to fall, with the latest report from SRX Property showing that there was a 0.8 per cent drop in prices last month compared to February.
The decline was 0.8 per cent in non-mature estates and 0.9 per cent in mature estates. Compared to March last year, prices are down 6.6 per cent, said SRX Property today (April 9).
Meanwhile, transaction volume rose 17.5 per cent, from 1,148 flats in February to 1,349 flats last month.
Flats continued to be sold below their estimated market value, with the median Transaction Over X-Value – SRX’s measure of whether people are underpaying or overpaying for properties – at negative S$3,000. This however is improved from the negative S$4,000 seen in February.
Resale flats in areas like Bukit Merah and Serangoon were sold above their estimated market value while flats in Hougang, Yishun and Choa Chu Kang below their estimated market value.
- wong chee tat :)
Thursday, January 29, 2015
Resale prices of private homes fall further in December: SRPI
Resale prices of private homes fall further in December: SRPI
The overall resale prices of private homes fell 1.2 per cent on-month in December, with prices of homes in the central region leading the decline, according to the Singapore Residential Price Index flash estimates.
SINGAPORE: Resale prices of private homes fell again in December, according to Singapore Residential Price Index (SRPI) estimates released on Wednesday (Jan 28).
The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices declined 1.2 per cent in December from the previous month. In November, prices fell 0.4 per cent from a month earlier.
Prices of homes in the central region, excluding small units, led the decline with a 1.7 per cent fall. Prices of homes in the non-central region, excluding small units, fell 0.8 per cent in December from November.
In contrast, prices of small units, which have a floor area of 506sqf or below, rose 0.5 per cent from the previous month.
- CNA/cy
- wong chee tat :)
The overall resale prices of private homes fell 1.2 per cent on-month in December, with prices of homes in the central region leading the decline, according to the Singapore Residential Price Index flash estimates.
SINGAPORE: Resale prices of private homes fell again in December, according to Singapore Residential Price Index (SRPI) estimates released on Wednesday (Jan 28).
The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices declined 1.2 per cent in December from the previous month. In November, prices fell 0.4 per cent from a month earlier.
Prices of homes in the central region, excluding small units, led the decline with a 1.7 per cent fall. Prices of homes in the non-central region, excluding small units, fell 0.8 per cent in December from November.
In contrast, prices of small units, which have a floor area of 506sqf or below, rose 0.5 per cent from the previous month.
- CNA/cy
- wong chee tat :)
Tuesday, December 9, 2014
Revision of HDB Resale Price Index (RPI)
Revision of HDB Resale Price Index (RPI)
Table 1: Comparison of Current and Rebased RPIs
Chart 1: Rebased RPI (1Q2009=100)
(JPG 1152KB)
Table 2: Back-testing of RPI Based on Current Method and Revised Method
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Date issued : 09 Dec 2014
The Resale Price Index (RPI) provides the general price trend of resale HDB flats. The index computation methodology was last revised in 2002. Since then, the variety of resale flats, e.g. design, age, location, which has been transacted in the resale market has increased. It is therefore timely to update the computation methodology of the RPI. From the 4th quarter 2014, HDB will update the computation methodology of the RPI by:
- i) Adopting the Stratified Hedonic Regression Method;
ii) Switching to 5-quarter fixed weights; and
iii) Adopting a new base period of 1Q2009.
New Stratified Hedonic Regression Method
2Currently, the RPI is computed using the stratification method, with a representative basket of towns and flat models. Resale prices are stratified into segments based on flat types, models and regions. The average prices for each segment are then aggregated using 12-quarter moving average weights to derive the index.
3With effect from the 4th quarter 2014, HDB will adopt the stratified hedonic regression method to compute the RPI. This method will control for variations in flat attributes, such as proximity to amenities, age and floor level, through a hedonic regression, to derive the general price movements in each segment. These are then aggregated using 5-quarter capital value fixed weights to derive the aggregate price change. To better reflect prevailing market structure, the weights will be updated once every three years. Please see Annex 
(PDF 218KB) for the graphical illustration.
(PDF 218KB) for the graphical illustration.
Updated Base Period
4Along with these changes, the base period will be updated to 1Q2009, from 4Q1998. This means that the RPI for 1Q2009 will be at 100. The current RPI series from 1Q1990 to 3Q2014 will be re-scaled to the new base period of 1Q2009. This adjustment will only impact the absolute levels of the index (see Table 1 and Chart 1), and the quarterly percentage changes will remain unchanged.
Table 1: Comparison of Current and Rebased RPIs
Quarter
|
Current RPI
(4Q1998=100) |
Current RPI
(Rebased to 1Q2009=100) |
Previous base 4Q1998
|
100
|
72.3
|
New base 1Q2009
|
138.3
|
100
|
2Q2009
|
140.2
|
101.4
|
3Q2009
|
145.2
|
105.0
|
4Q2009
|
150.8
|
109.0
|
1Q2010
|
155.0
|
112.1
|
2Q2010
|
161.3
|
116.6
|
3Q2010
|
167.8
|
121.3
|
4Q2010
|
172.0
|
124.4
|
1Q2011
|
174.8
|
126.4
|
2Q2011
|
180.3
|
130.4
|
3Q2011
|
187.2
|
135.4
|
4Q2011
|
190.4
|
137.7
|
1Q2012
|
191.6
|
138.5
|
2Q2012
|
194.0
|
140.3
|
3Q2012
|
197.9
|
143.1
|
4Q2012
|
202.9
|
146.7
|
1Q2013
|
205.5
|
148.6
|
2Q2013
|
206.6
|
149.4
|
3Q2013
|
204.8
|
148.1
|
4Q2013
|
201.7
|
145.8
|
1Q2014
|
198.5
|
143.5
|
2Q2014
|
195.7
|
141.5
|
3Q2014
|
192.4
|
139.1
|
Note: The re-scaling uses a factor of 100 (new index in 1Q2009) / 138.3 (original index in 1Q2009) multiplied on the original index level to derive the re-based index level for the respective quarters. Indices from 1Q1990 to 4Q2008 will be similarly re-scaled using the same factor. Due to rounding, there could be some differences in the quarterly price change compared to the RPI series before re-scaling.
Chart 1: Rebased RPI (1Q2009=100)
(JPG 1152KB)
5Back-testing of the index using the new method on 2014 data shows that there is no change in trend, and the quarterly changes follow closely to those computed using the current method (Table 2).
Table 2: Back-testing of RPI Based on Current Method and Revised Method
Time Period
|
Current RPI
|
Revised RPI
|
1Q2014
|
-1.6%
|
-1.9%
|
2Q2014
|
-1.4%
|
-1.5%
|
3Q2014
|
-1.7%
|
-1.8%
|
6The stratified hedonic regression methodology will be adopted from the next index release, i.e. the release of the flash estimate of 4Q2014 RPI in Jan 2015.
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Friday, October 24, 2014
HDB resale prices down 1.7% on-quarter in Q3
HDB resale prices down 1.7% on-quarter in Q3
The number of resale transactions rose by 2.8 per cent from 4,389 cases in the second quarter to 4,513 cases in the third quarter, HDB says.
SINGAPORE: Prices of resale flats fell by 1.7 per cent on-quarter in the third quarter of 2014, while the number of resale transactions rose 2.8 per cent, according to the Housing and Development Board (HDB).
HDB on Friday (Oct 24) announced that the Resale Price Index (RPI) fell from 195.7 in the second quarter to 192.4 in the third quarter. Resale transactions increased from 4,389 cases in the second quarter to 4,513 cases in the third quarter.
The number of subletting transactions rose by 5.5 per cent from 8,455 cases in the second quarter to 8,923 cases in the third quarter. The total number of HDB flats approved for subletting rose by 1.5 per cent from 47,015 to 47,707 units.
Since January this year, a total of 18,178 Build-To-Order (BTO) flats and 3,383 balance flats under the BTO and Sale of Balance Flats (SBF) exercises have been launched. HDB said it is on track to launch 22,400 BTO flats for the whole of 2014.
Another 4,290 BTO flats in Sembawang, Sengkang, Tampines and Yishun will be launched in November, HDB said. An additional 3,000 flats will be offered in a concurrent SBF exercise.
- CNA/cy
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The number of resale transactions rose by 2.8 per cent from 4,389 cases in the second quarter to 4,513 cases in the third quarter, HDB says.
SINGAPORE: Prices of resale flats fell by 1.7 per cent on-quarter in the third quarter of 2014, while the number of resale transactions rose 2.8 per cent, according to the Housing and Development Board (HDB).
HDB on Friday (Oct 24) announced that the Resale Price Index (RPI) fell from 195.7 in the second quarter to 192.4 in the third quarter. Resale transactions increased from 4,389 cases in the second quarter to 4,513 cases in the third quarter.
The number of subletting transactions rose by 5.5 per cent from 8,455 cases in the second quarter to 8,923 cases in the third quarter. The total number of HDB flats approved for subletting rose by 1.5 per cent from 47,015 to 47,707 units.
Since January this year, a total of 18,178 Build-To-Order (BTO) flats and 3,383 balance flats under the BTO and Sale of Balance Flats (SBF) exercises have been launched. HDB said it is on track to launch 22,400 BTO flats for the whole of 2014.
Another 4,290 BTO flats in Sembawang, Sengkang, Tampines and Yishun will be launched in November, HDB said. An additional 3,000 flats will be offered in a concurrent SBF exercise.
- CNA/cy
- wong chee tat :)
Wednesday, October 15, 2014
Singapore private home sales up sharply in September
Singapore private home sales up sharply in September
Developers sold 648 new private homes last month, a 48.3 per cent increase from the 437 units sold in August, according to the Urban Redevelopment Authority.
SINGAPORE: Buyers returned to the private housing market in September, with sales of homes surging 48.3 per cent from the previous month.
Excluding executive condominiums (ECs), developers sold 648 new units last month, up from the 437 units sold in August, data from the Urban Redevelopment Authority showed on Wednesday (Oct 15). Including Executive Condominiums (ECs), 707 new units were sold in September.
The strong sales came as developers launched more units for sale, with 514 units launched last month, up from 399 units launched in August.
- CNA/cy
- wong chee tat :)
Developers sold 648 new private homes last month, a 48.3 per cent increase from the 437 units sold in August, according to the Urban Redevelopment Authority.
SINGAPORE: Buyers returned to the private housing market in September, with sales of homes surging 48.3 per cent from the previous month.
Excluding executive condominiums (ECs), developers sold 648 new units last month, up from the 437 units sold in August, data from the Urban Redevelopment Authority showed on Wednesday (Oct 15). Including Executive Condominiums (ECs), 707 new units were sold in September.
The strong sales came as developers launched more units for sale, with 514 units launched last month, up from 399 units launched in August.
- CNA/cy
- wong chee tat :)
Tuesday, July 22, 2014
Temporary extension of stay for resale flats
Temporary extension of stay for resale flats
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Date issued : 22 Jul 2014
Sellers of HDB flats will, with effect from today, be able to negotiate with their buyers for a temporary extension of stay in their HDB flats, by up to three months. This is part of HDB’s regular review to respond to the needs of HDB resale flat sellers and buyers. This move will facilitate sellers who are transiting to their next homes, including those who may need more time for renovation or those awaiting funds from the sale of their current flats, eg. contra cases.
Relaxed Rule to Help Flat Sellers
2Flat sellers who wish to extend their stay temporarily must have committed to buy a completed housing unit1 in Singapore at the time of the resale application, i.e. they must have exercised an Option to Purchase or signed a Sale and Purchase Agreement.
3The request for the extension of stay is to be submitted to HDB at the time of the resale application.
4The extension of stay will automatically cease at the end of three months. Any earlier termination must also be communicated to HDB, as this will impact flat buyers’ Minimum Occupation Period, which commences on the day when they take over the flat.
Private Agreement
5Any such arrangements are, however, subject to the agreement of buyers. Details of the extension, including the duration and monetary compensation, if any, must be mutually agreed to by both parties.
Enquiries
6HDB estimates that 15% of total resale transactions, ie. some 2700 households a year, will benefit from this relaxed rule (based on total resale volume of 18,100 in 2013).
7For further enquiries, the public can contact HDB at 1800-8663066.
1 The housing unit can be another HDB flat or a private residential property.
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