HDB resale flat prices down 6% for the year

Singapore

THERE is no sign of a bottoming out of HDB resale prices even as the latest flash estimates from the Housing & Development Board (HDB) showed prices falling by 6 per cent for the whole of last year.

The estimated 1.4 per cent quarterly drop in the fourth quarter - though milder than the 1.7 per cent fall in the third quarter - marked a sixth straight quarter of decline in the HDB Resale Price Index (RPI) to a level last seen in 2011.