28 Jan '11, 6am

HDB prices in Singapore see total rise of 14.1% in 2010 via @cmswire

PUBLIC housing HDB resale flat prices rose by 2.5 per cent in the fourth quarter of 2010 over the previous quarter bringing the total price rise for 2010 to 14.1 per cent. This 2.5 per cent figure is a marginal increase of 0.1 per cent from the preliminary estimates released earlier this month. The increase was the lowest quarterly growth since the second quarter of 2009 and shows a 'gentler growth' in prices, analysts noted. Recent measures by the Government to cool the red hot market made an impact on the volume of sales, which fell by about 21 per cent from 8,205 transactions in the third quarter to 6,454 cases in the fourth quarter. For the whole year, the number of flats that changed hands dropped 13 per cent to 32,257 flats sold, compared to 2009. The median cash up front paid to sellers, known as cash-over-valuation, also fell by $7,000 to $23,000 in the fourth quar...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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