03 Jan '12, 9pm

Prices of HDB resale flats moderating after year of policy tweaks

SINGAPORE - The tide could be turning in favour of buyers, with home prices in Singapore showing signs of moderating. Prices of resale Housing and Development Board (HDB) flats grew 1.7 per cent in the last quarter of last year, compared to the 3.8 per cent growth seen in the third quarter. This brings the HDB Resale Price Index - which provides information on the general price movements in the public residential market - to 190.4. The figures confirmed what the market had been expecting - a moderation in home prices following a year of policy tweaks by the Government to cool the red-hot property market, while home buyers are becoming more cautious in light of the uncertain economic outlook. Market watchers also pointed out that cash-over-valuation - the cash premium paid upfront for resale flats - is showing signs of softening, dropping between S$5,000 and S$8,000 in the ...

Full article: http://www.todayonline.com/Singapore/EDC120104-0000062/HD...

Tweets

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