SINGAPORE: Housing and Development Board ( HDB) flats prices rose 2.3 percent in the second quarter of 2024, an increase from the 1.8 per cent rise seen in the previous quarter.  ,
The Resale Price Index ( RPI ) for the second quarter of 2024 is 187.9, up from 183.7 in the previous quarter, according to data released by HDB on Friday ( Jul 26 ).
The selling market’s public price movements are reflected in the RPI.  ,
Selling deals even increased for the second quarter of 2024, rising by 4 per share, from 7, 068 circumstances in Q1 to 7, 352 circumstances in Q2.
Selling purchases increased by 12.9 % in the second quarter of 2024 compared to the same period in 2023.
A” solid broad-based need, as well as some provide tightness in the market, with fewer new condos meeting the Minimum Occupation Period in 2024 as opposed to 2023,” according to HDB, contributed to the increase in sale rates and size for this quarter.
HDB noted that only a small portion of total sale transactions for the third came from transactions that had over the million-dollar tag.
The agency continued, noting that” the majority of sale flat transactions were conducted at significantly lower prices and continued to be cheap.
Smooth Provide
HDB said it will offer about 8, 500 flats across 15 Build-To-Order ( BTO ) projects in the October 2024 BTO exercise.
The fresh BTO projects may be categorized as Standard, Plus, or Prime condos based on their distinct geographic characteristics, with more details being made available shortly after the start.
In order to participate in the October 2024 exercise, HDB advised applicants to submit an application for a valid HDB Flat Eligibility ( HFE ) letter early and submit all necessary paperwork by Sep 15.
The cover table added that it is on record to build a total of 100, 000 flats from 2021 to 2025.
” HDB is committed to offering Singapore housing options that are both affordable and accessible.  ,
” We may continue to monitor the enclosure need attentively, making changes where needed, “it said.