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Resale prices of Singapore's public housing units fall in Q1

Xinhua, April 22, 2016 Adjust font size:

Resale market for Singapore's public housing units built by Housing and Development Board (HDB) fell slightly in the first quarter of 2016, with the Resale Price Index down by 0.1 percent and the number of transactions slipping 10.9 percent, said HDB in a press release on Friday.

HDB said that the Resale Price Index fell by 0.1 percent, from 134.8 in the fourth quarter last year to 134.7 in the first quarter this year. Resale transactions declined by 10.9 percent, from 4,992 to 4,449 cases.

In HDB rental market, the number of applications approved to sublet HDB flats increased by 5.8 percent from 10,618 in the fourth quarter 2015 to 11,239 cases in the first quarter 2016.

It revealed that 51,052 HDB flats were sublet as of March 31, an increase of 1.6 percent over the previous quarter, where 50,264 units were sublet.

About 80 percent of the resident population in Singapore live in units built by HDB and sold to eligible households. Endit