Singapore resale home prices fell 1.75% in third quarter

The resale prices for Housing and Development Board (HDB) flats in Singapore dropped by 1.7 percent on-year in the third quarter of 2014, according to the Housing and Development Board (HDB) on Friday.
Resale Price Index (RPI) dropped to 192.4 in the third quarter from 195.7 in the second quarter. Resale transactions increased from 4,389 cases in the previous quarter to 4,513 cases in the third quarter.
Subletting transactions in the third quarter increased by 5.5 percent from 8,455 cases in the previous quarter, while total number of HDB flats approved for subletting rose by 1.5 percent to 47,707 units.
HDB also said that a total of 18,178 Build-To-Order (BTO) flats and 3,383 balance flats under the BTO and Sale of Balance Flats ( SBF) exercises have been launched so far this year, and it will launch 22,400 BTO flats for the whole year of 2014.