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HDB resale flat transactions fell 3.2% in Q3

[SINGAPORE] Following a four-year high in the last quarter, Housing Board (HDB) resale flat transactions fell by 3.2 per cent in the third quarter of this year, said HDB on Friday.

There were 5,808 cases in the third quarter, down from 6,001 in the second quarter.

The last time transactions for a quarter crossed the 6,000-mark was in the third quarter of 2012, when 6,560 resale applications were registered.

Compared to the third quarter last year, resale transactions in the same period this year were 5.3 per cent higher.

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According to HDB data, resale prices continued falling, dropping by 0.7 per cent in the third quarter this year over the previous quarter.

Resale prices have been on a gradual decline since 2013.

The number of applications approved for the subletting of HDB flats fell by 2.1 per cent as well, from 10,929 cases in the second quarter to 10,698 cases third quarter.

HDB will also offer about 4,800 Build-to-Order (BTO) flats in Geylang, Punggol, Sengkang and Tampines in November.

This will bring the total BTO flat supply for the year to about 17,500 units. There will be concurrent sale of balance flats exercise as well.

THE STRAITS TIMES