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Resale price of Singapore's public housing down 0.5 pct in Q1

by April 28, 2017 General

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SINGAPORE, April 28 (Xinhua) — Resale price of Singapore’s public housing units built by Housing and Development Board (HDB) fell 0.5 percent in the first quarter of 2017, compared with the fourth quarter of 2016, according to the HDB on Friday.

Resale Price Index (RPI), which provides information on the general price movements in the resale public housing market, was 133.9 in the first quarter of 2017, posting a decline of 0.5 percent from 134.6 in the fourth quarter last year, said the HDB.

The number of HDB resale transactions fell by 9.6 percent from 5,012 in the previous quarter to 4,530.

About 80 percent of the resident population in Singapore live in units built by HDB and sold to eligible households.