Senior Minister of State for National Development Grace Fu said yesterday that the Housing Board is monitoring the market closely and will adjust new-flat prices accordingly.

'For every project that's launched, we will take the cue from the market, so for every batch that's coming up, if the current market has adjusted, we will adjust our selling price accordingly,' she said.

The Straits Times yesterday reported that resale flat prices have softened for specific types, such as five-roomers in areas like Punggol, to match the price of similar newly-launched flats.

Ms Fu assured home buyers yesterday that HDB will 'always price [the new flats] with the market price in mind'.