SINGAPORE : The drop in the Resale Price Index released by the Housing and Development Board (HDB) is the ninth consecutive quarter of decline, according to flash estimates.
Foreigners have been buying fewer homes and possibly depressing prices in the process. Overseas buyers traditionally add to demand for more expensive homes, including those in the central region and city fringes but their share of purchases has been on the decline.
Foreigners picked up about 137 non-landed private homes in the third quarter, or about 4 per cent of overall non-landed sales.
This is down from 355 or a 9.2 per cent share in the third quarter of 2013 and 261 or a 10 per cent share in the same period last year. Read more >>
SINGAPORE — Prices of Housing and Development Board (HDB) flats fell for the ninth consecutive quarter, but the decline is the gentlest yet and analysts say it could be a sign that the market is bottoming out soon.
Flash figures released by the HDB today (Oct 1) showed that the Resale Price Index (RPI) was 134.6, a decline of 0.3 per cent from the previous quarter. The decreases this year have been smaller than those seen last year, with prices falling 0.4 per cent in the second quarter. In comparison, the index fell 1.5 per cent from the preceding quarter in the third quarter of last year.
Analysts said the property market cooling measures — such as the loan curbs and tightened restrictions on permanent residents buying resale flats — continued to make their impact felt, but prices are unlikely to fall by much going forward. Read more >>