Slowdown in price growth for public and private housing in Q1

Resale prices of public and private housing recorded slowdown in the first quarter of this year.

Resale prices of HDB flats are up 1.6 per cent in the first quarter, a slowdown from the previous quarter which saw prices increase by 2.5 per cent.

This is according to estimates released by the Housing & Development Board.

It added that it will offer 22,000 new Build-to-Order or BTO flats this year if demand is sustained.

Singapore’s private property prices also saw a slowdown in growth, rising 2.1 per cent in the first quarter, compared to 2.7 per cent in the previous quarter.

The Urban Redevelopment Authority estimates showed that growth is led by the suburban areas which went up by 3.1 per cent.

This is followed by prices in the city fringe areas which grew 2.2 per cent, and the prime city areas which grew 0.9 per cent.

The slowdown in price increase for both public and private housing came after strong cooling measures were introduced by the government earlier this year.

Source : Channel NewsAsia – 1 Apr 2011

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