Resale prices of public flats seen falling 1.3 per cent in Q4: HDB

SINGAPORE - This year will see HDB reduce the supply of new three-room and larger flats by 18 per cent from 22,600 units in 2013 to 18,600 units, now that the demand from families has stabilised, it said.

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Here is the full statement from HDB:

FLASH ESTIMATE OF 4TH QUARTER 2013 RESALE PRICE INDEX

HDB's flash estimate of the 4th Quarter 2013 Resale Price Index (RPI) is 202.1, a decline of 1.3 per cent over 3rd Quarter 2013.

The RPI provides information on the general price movements in the resale public housing market. The transacted prices of individual flats (by block and flat type) can be found on HDB InfoWEB (online enquiry).

The RPI for the full quarter and more detailed public housing data for 4th Quarter 2013 will be released on 24 January 2014.

In 2014, HDB will reduce the supply of new 3-room and larger flats by 18 per cent from 22,600 units in 2013 to 18,600 units, now that the demand from families has stabilised. The number of 2-room BTO flats in non-mature estates, however, will be increased from 2,600 units in 2013 to 5,000 units. This will help meet the demand from singles.

HDB will also offer 700 Studio Apartments to meet the right-sizing demands of the elderly. Overall, HDB will offer 24,300 BTO flats in 2014. HDB will continue to monitor the housing needs of Singaporeans closely and respond appropriately to demand and supply conditions.