25 Jul '11, 2am

HDB resale prices to stabilise in 3 to 5 years

SINGAPORE - It could take another three to five years - when the supply of new Build-To-Order flats are completed - before resale prices stabilise, according to National Development Minister Khaw Boon Wan. Mr Khaw, who was speaking to reporters on the sidelines of a Sembawang community event yesterday, also reiterated that his priority for now was to help first-time buyers, rather than upgraders. "At this stage ... I've decided that's the top priority, so we try to help this group of people. But those who already got a flat and want to upgrade, I think, you already got a flat, please hold on for a while," said Mr Khaw, who also signalled that the authorities would no longer reveal the median cash-over-valuation (COV) as such a figure is "misleading". Last Friday, HDB data showed that resale flat prices rose 3.1 per cent between April and June, almost doubling the 1.6 per c...

Full article: http://www.todayonline.com/Hotnews/EDC110725-0000018/Resa...

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