28 May '14, 4am

HDB flats' value of households' holdings drops 0.7% #PR

The value of HDB flats held by households dipped by 0.7 percent to $412.8 billion in 2013 due to higher supply and the series of property curbs imposed in recent years, according to media reports. This marks its first annual decline since 2005, following growths of 14.5 percent in 2010, 11.5 percent in 2011 and 6.8 percent in 2012. The data, compiled from the Monetary Authority of Singapore's (MAS) website, suggests the value of households' holdings of HDB flats is possibly reaching an inflexion point. Apart from the 2.4 percent increase in supply that resulted in 961,800 units last year, another factor that contributed to the fall in values is the three-year waiting period for new Permanent Residents (PRs) before they are allowed to buy resale flats, said Nicholas Mak, Executive Director at SLP International. The decrease in the value of households' housing assets should ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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