Resale prices for HDB flats continued their decline in Q3 2014 — a result of a convergence of measures imposed last year and an increased supply of new flats. According to data from HDB released today, resale flat prices fell 1.7 per cent to 192.4 points — the fifth consecutive quarter of decline.
For the first 3 quarters of 2014, HDB resale prices fell 4.7 per cent — this is the largest decline since 2005 (when the index fell 4.7 per cent in the year).
URA’s Q3 2014 result shows that prices of private homes in Singapore fell marginally by 0.7 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 decline. However, the decline has decelerated for the third straight quarter.
The moderate price decline also reflects the resilience of market demand, which is underpinned by a stable economy and strong employment.
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