HDB's resale flats falls 1.5% during first quarter
According to the latest data released, Housing Board resale flat prices recorded a fall of 1.5 per cent during the first three months of the year compared to the previous quarter.
HDB's flash estimates showed on Tuesday that the resale price index recorded a fall of 198.6 in the first quarter, recording its third straight fall. The updated resale price index for the quarter is expected to be released on the 25 of April. Experts have said that strict property cooling measures and lending curbs implemented by the government has helped reduce the price of houses and the prices of private homes are exp3cted to fall further in the country.
Data from URA also showed that private home prices in Singapore continued to fall during the first quarter of the year in Singapore. Strict measures had affected the real-estate investment in the city state. The private residential property price index fell 1.3 per cent during the first three months of the year to 211.6 points, according to the data released.
Experts said that government restrictions had dampened the demand from all groups of home buyers.