SINGAPORE: Resale transactions in the public housing market jumped 19.4 per cent from the previous quarter in the third quarter of this year, according to data from the Housing and Development Board HDB on Friday Oct 22 Between July and September, 8,433 HDB resale transactions were logged, up from 7,063 applications in the second quarter.
Resale prices in the second quarter were also higher, rising 2.9 per cent over the third quarter. This is slightly higher than the 2.7 per cent rise in flash estimates released by HDB earlier this month.
The resale price index, which provides information on the general price movements in the resale public housing market, rose from 146.4 to 150.6, HDB data showed.
This is higher than the previous peak of 149.4, recorded in the second quarter of 2013.
The public housing segment has been on fire, said Ms Christine Sun, senior vice president of research and analytics at OrangeTee Tie.
The stellar sales have driven prices of resale flats to a record high in the last quarter. Home prices are pushing new boundaries as demand outweighs supply in many locations, she added.
Moreover, the market exuberance has been propped by a recovering economy, low mortgage rates, and new buyer demand as a result of construction delays of new BTO flats.