Release of 4th Quarter 2009 Public Housing Data
 
Date issued : 22 Jan 2010


 This press release provides housing data for the HDB Resale and Rental Markets in 4th Quarter 2009.

HDB Resale Market

2HDB’s Resale Price Index (RPI) rose by 3.9% in 4th Quarter 2009 over the previous quarter, bringing the full year increase for 2009 to 8.2%. Please see Annexes A- 1 (PDF 15KB) and A-2 (PDF 15KB) and B (PDF 33KB).


3Resale transactions declined by about 23%, from 11,649 cases in 3rd Quarter 2009 to 8,926 cases in 4th Quarter 2009 (see Annex C (PDF 19KB)). The total number of resale transactions in 2009 was 37,205, an increase of 31% over 2008.


4The median Cash-Over-Valuation (COV) amount among all resale transactions is at $24,000 in 4th Quarter 2009 (see Annex D (PDF 37KB)), with 93% of cases transacting above valuation. The median COV amount has stabilised in recent months, with the figure for the first half of Jan 2010 down to $22,000.


Upcoming New Flat Supply

5HDB will launch 12,000 new Build-To-Order (BTO) flats this year, or more if there is demand. Launches will be scheduled monthly for the next few months. The BTO supply will be supplemented by flats under the Design, Build and Sell Scheme as well as Executive Condominiums (EC) for the higher income buyers.


6In Jan 2010, HDB offered 1,300 flats in Choa Chu Kang and Hougang for sale under BTO, and launched the tender of two EC housing sites in Sengkang and Yishun (combined yield of about 900 units). In Feb 2010, flat buyers can look forward to another 1,500 BTO flats in Punggol and Woodlands. In total, HDB is planning to offer 6,900 flats in 1H2010. The projects will have a good geographical spread over areas such as Sengkang, Sembawang, Punggol, Yishun and Jurong West.


7HDB will monitor the market closely and adjust the flat supply accordingly.

HDB Rental Market

8Median sublet rents increased across all flat types in 4th Quarter 2009, except for 3-room flats which remained the same as the previous quarter. Please see Annex E (PDF 34KB).


9Subletting transactions inched up by about 1% from 3,848 cases in 3rd Quarter 2009 to 3,902 cases in 4th Quarter 2009 (see Annex F (PDF 18KB)). The total number of subletting transactions in 2009 is 15,137, comparable to that in 2008. The total number of HDB flats approved for subletting rose to about 24,300 units in 4th Quarter 2009, compared to about 23,800 units in 3rd Quarter 2009.
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