HDB resale prices continue to cool in Q3
Resale prices for HDB flats continued their decline in Q3 2014 — a result of a convergence of measures imposed last year and a continued supply of new flats. According to HDB’s flash estimates released today, resale flat prices fell 1.6 per cent to 192.5 points — the lowest in 2 years; this is also the fifth consecutive quarter of decline. For the first 3 quarters of 2014, the HDB resale prices fell 4.6 per cent.
URA’s Q3 2014 result also shows that prices of private homes in Singapore are firmly on the downtrend. The price index fell by 0.6 per cent quarter-on-quarter (QoQ) in Q3 2014, after a decline of 1.0 per cent in the preceding quarter – this is the fourth consecutive quarter of moderation.
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