HDB’s resale price index (RPI) flash estimate of 144.7 for the third quarter of 2009 continues setting a new record high for the RPI.
PropNex CEO Mohamed Ismail attributes this growth to the greater demand for resale flats in recent months.
“Looking at our transactions for the past few months, we have seen a return of higher COVs (cash-over-valuation),” says Mr Ismail, “which is clear evidence of a rising demand for resale flats.”
However, he maintains that only growth increases of 2–3% are sustainable, and does not expect to see any variation in this for the next few quarters.
Adds Mr Ismail: “This increase is actually good news for HDB owners as it provides them with the prime opportunity to upgrade their property or simply gain cash from selling their existing flat.”
For enquiries, please contact:
Mohamed Ismail (CEO) 9487 1414
Adam Tan (Corporate Communications Manager) 9006 8726