02 Jul '11, 12am

Resale HDB flat prices have risen partly because of a falling supply, experts told The Straits Times

Resale HDB flat prices have risen partly because of a falling supply, experts told The Straits Times

The prices jumped by 2.9 per cent over the past three months - compared with an increase of only 1.6 per cent in the quarter before, Housing Board figures showed. -- ST PHOTO: CAROLINE CHIA RESALE flat prices have risen partly because of a falling supply, experts told The Straits Times yesterday. The prices jumped by 2.9 per cent over the past three months - compared with an increase of only 1.6 per cent in the quarter before, Housing Board figures showed. Analysts put this down to a significant drop in the number of resale flats on the market. They gave several reasons for the supply crunch. First, some HDB flat owners are hanging on to their units because rising private property prices mean it is too expensive for them to upgrade. ERA Realty's key executive officer Eugene Lim said: 'Many HDB upgraders have found private property prices, especially those of mass market co...

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