The Housing and Development Board (HDB) will calculate its Resale Price Index (RPI) using a new methodology on its flash estimates of the fourth quarter of 2014, which are expected to be released in January next year.
The RPI provides the general price trend of resale HDB flats, and was last revised in 2002.
With the revision, the RPI will be calculated using a methodology that captures price movements in all HDB towns, including newer towns which had previously been excluded from the computation, such as Punggol, Sengkang and Sembawang. There were no resale transactions in these three towns in 2001, prior to the previous revision of the index.
Currently, the resale volume in these three towns constitutes about 10 per cent of all resale transactions, HDB said.–Channel News Asia