No speculation in market for HDB shops: MND
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File photo of shops at Tanjong Pagar Plaza dated Jan 13, 2012. There is no evidence of speculation in the market for HDB shops, the Ministry of National Development said in a written parliamentary reply today. -- ST PHOTO: TED CHEN
THERE is no evidence of speculation in the market for HDB shops, the Ministry of National Development (MND) said in a written parliamentary reply today.
It revealed that of the 216 HDB shops sold this year, only 14 - or 6 per cent- were resold within one year of purchase.
"This does not suggest a speculative element in HDB shops," MND said in reply to a question from Sembawang GRC MP Ong Teng Koon.
Prices for industrial and commercial property have risen rapidly this year, and some analysts have suggested that the speculative activity has spread to "mom and pop" HDB shops.
