Home prices continue slide in second quarter

Private residences and HDB flats near Tree House condominium.
Private residences and HDB flats near Tree House condominium.PHOTO: ST FILE

Prices of private and public homes fell yet again in the second quarter.

Private home prices slipped 0.9 per cent, the seventh straight quarter of decline, while HDB flat prices fell for the eighth straight quarter, posting a 0.4 per cent drop.

Meanwhile, the Housing Board has cut the number of Build-To-Order (BTO) flats offered this year to 15,000, citing the stabilising resale market.

This is down from the 16,900 planned initially.

This is the second year in which HDB is tapering down BTO supply, after three years of ramped-up building from 2011 to 2013.

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A version of this article appeared in the print edition of The Straits Times on July 02, 2015, with the headline 'Home prices continue slide in second quarter'. Print Edition | Subscribe