According to HDB’s flash estimate, the resale price index inched up 0.2% in 4Q2015, bucking the downtrend since the latest peak in 2Q2013. This puts the price decline for the whole 2015 at 1.5%, compared to 6.1% for 2014 (Table 1 and Figure 1).
In 2016, HDB plans to launch around 18,000 flats, about 3,000 more than the 15,100 units in 2015 to meet the expected demand due to recent policy changes. The first Build-To-Order exercise will be held in February, where about 4,150 flats in Bidadari, Bukit Batok and Sengkang will be offered.
The Resale Price Index and more detailed public housing data for 4Q2015 will be released on 22 January 2016.
Prices for private residential property fell for the ninth consecutive quarter by 0.5% q-o-q in 4Q2015, according to URA’s flash estimates. This was smaller than the 1.3% dip in the previous quarter (Figure 2a). This brings the full year decline to 3.7% in 2015, following a 4% drop in 2014.
Only the Core Central Region saw a decline in 4Q2015 as prices of non-landed homes slipped 0.4%, compared to the 1.2% decline in 3Q2015 (Figure 2b). Prices of non-landed homes in both Rest of Central Region and Outside Central Region remained unchanged, improving from the 1.6% decline in 3Q2015.
For the whole of 2015, prices in CCR, RCR and OCR have fallen by 2.6%, 3.9% and 3.7% respectively.
The indices are scheduled to be updated in four weeks’ time when URA releases the full real estate statistics for 4Q2015.
Table 1: Resale Price Index
Figure 1: Resale Price Index
Figure 2a: Private residential property price index
Figure 2b: Property price index of non-landed private residential property