HDB resale prices fell 1.7% in Q3, making for 5th consecutive quarter of shrinkage

PRICES of HDB resale flats slipped for the fifth consecutive quarter as the huge supply of build-to-order flats, the loan curbs and the government's tightening of eligibility rules for Singapore permanent residents continue to weigh on the resale market.

Finalised figures from HDB disclosed that resale prices in the third quarter slipped 1.7 per cent quarter on quarter, after a 1.4 per cent fall in the second quarter.

The decline is larger than the 1.6 per cent drop projected in the earlier flash estimate by HDB.

The index is calculated using resale transactions registered across various towns, flat types and models, with the fourth quarter of 1998 as the base period.