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Property News: Flash Estimate of the HDB Resale Price Index in 1st Quarter 2020


Have you sold or bought a Housing and Development Board (HDB) resale flat in the first quarter this year?

Amid the COVID-19 pandemic, the HDB said that the resale property prices were unchanged in the first three months of 2020, compared with the last quarter of 2019.

What is the Flash Estimate of the HDB Resale Property Price Index in Q1?

Resale Property Price Index (RPI) tracks the overall price movement of the public residential market. It is based on a quarterly average resale price by date of registration.

  • RPI was 131.5 which is the same level as in the last quarter of 2019.
  • Prices were stable after two consecutive quarters of the increase last year.

The HDB will release the final figures, with more detailed public housing data on 24 April.

Ohmyhome’s HDB Sales Manager Clarence Liang said, “In the first quarter of 2020, we do not see an enormous impact of COVID-19 to the HDB resale flat prices. The HDB resale RPI is less likely to be subjected to rapid shifts, unlike private investment properties. Stable HDB resale price could be an indication that buyers are being a little more conservative.”

New BTO Flats

About 3,700 Build-To-Order (BTO) flats in Choa Chu Kang, Pasir Ris, Tampines and Tengah will be offered in May. While there are 4,100 BTO flats in Ang Mo Kio, Bishan, Geylang, Tampines and Woodlands that will be offered in August.

Sources: HDB, The Straits Times

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