19 Jul '11, 7am

Prices for new BTO flats not falling: Minister Khaw #Singapore

After raising eyebrows with BTO flats launched at lower prices than previous launches last week, PAP Housing Minister Khaw Boon sought to alleviate fears that the prices will continue to drop sharply. In last week’s launch of 3,600 BTO flats in seven locations in Sengkang, Tampines, Jurong West, Bukit Panjang and Yishun, the indicative starting prices for three-, four- and five-room flats were $137,000, $217,000 and $274,000. In May, the starting prices for 4,000 BTO flats in Pasir Ris, Punggol, Tampines and Woodlands were $166,000, $264,000 and $335,000 respectively. Calling broad-based comparisons akin to comparing apples with oranges, Mr Khaw added: ‘What I’m trying to achieve at this stage is to try to stabilise the pricing. So you can largely see that prices are not increasing but it is also not dropping sharply because there’s no reason to… unless the market begins t...

Full article: http://sg.news.yahoo.com/blogs/singaporescene/prices-bto-...

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