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HDB resale prices hit record high again rising by 4.1% in Q2

By Alicia Wong, Sharon See | Posted: 23 July 2010 1318 hrs

 

SINGAPORE: DB resale flat prices have hit record highs again. Prices rose by 4.1 per cent in the second quarter of 2010 compared with the previous quarter. This makes it the fifth straight quarter of increase.

 

The HDB resale market continues to attract keen interest. Analysts said the demand is driven by those who don't qualify for a new flat or want a flat quickly.

 

These are the singles, permanent residents, flat owners who want to upgrade or downgrade and married couples who can't wait three years for a new HDB flat.

 

Chris Koh, director, Dennis Wee Group, said: "Private property prices are very high today and because it's so high there are a lot of people who are now turning to the HDB market.