Singapore HDB To Ensure Good Supply Of New BTO Flats
HDB is monitoring the demand situation of HDB flats and will adjust its building plan accordingly.
About 5,100 Built-To-Order (BTO) flats was offered from Jan to Oct 2009 and another 4,000 BTO flats in Punggol, Bukit Panjang, Sembawang and Dawson will be offered in November and December 2009.
This press release provides housing data for the HDB Resale and Rental Market transactions in 3rd Quarter 2009.
HDB Resale Market
HDB’s Resale Price Index (RPI) rose by 3.6% in 3rd Quarter 2009 over the previous quarter.
Resale transactions increased by about 14%, from 10,184 cases in 2nd Quarter 2009 to 11,649 cases in 3rd Quarter 2009).
The median Cash-Over-Valuation (COV) amount among all resale transactions has risen to $12,000 in 3rd Quarter 2009. In tandem with this trend, cases transacting above valuation has also increased to 79%.
Upcoming New Flat Supply
The Build-To-Order (BTO) system constitutes the main supply of new HDB flats. On 1 Oct 2009, HDB announced the launch of 5,000 BTO flats from Oct to Dec 2009. With the two BTO projects on 16 Oct 2009, HDB has offered about 5,100 units from Jan to Oct 2009. In Nov and Dec 2009, the public can look forward to another 4,000 BTO flats in Punggol, Bukit Panjang, Sembawang and Dawson. Together with other sale exercises, as well as flats offered under the Design, Build and Sell Scheme, the total flat supply for 2009 would be about 13,500 units. HDB is monitoring the demand situation and would adjust its building plan accordingly to ensure an adequate supply of new flats.
HDB Rental Market
Median sublet rents for 2-room and 5-room HDB flats in 3rd Quarter 2009 remained the same as the previous quarter, but rose slightly by $100 or less for 3-room, 4-room and Executive flats.
Subletting transactions fell slightly by 0.4% from 3,862 cases in 2nd Quarter 2009 to 3,848 cases in 3rd Quarter 2009 . The total number of HDB flats approved for subletting rose to about 23,800 units as at 3rd Quarter 2009, compared to about 23,200 units in 2nd Quarter 2009.
Topics: BTO, build to order, building plan, Bukit Panjang, cash over valuation, COV, Dawson, flats, Governance, HDB, housing, Housing Development Board, Punggol, real estate, rental market, resale price index, RPI, Sembawang, Singapore
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