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Property market to continue stabilising: Desmond Lee
The Straits Times
|April 28, 2024
Govt will watch the trends very carefully over the next few quarters, minister says
There may be quarter-on-quarter variations in Housing Board and private home resale prices but the authorities expect the property market to continue stabilising, said National Development Minister Desmond Lee.
The Government will watch the trends very carefully over the next few quarters, added Mr Lee, who was speaking to reporters on the sidelines of the launch of the Greenfly Allotment Garden in Boon Lay on April 27.
His comments came a day after the release of the latest HDB resale and private housing data for the first quarter of 2024.
Prices of HDB resale flats edged up 1.8 per cent in the first three months of 2024, outpacing the previous quarter's 1.1 per cent. This was the 16th consecutive quarter of price increase since the second quarter of 2020, according to figures released by the statutory board.
Meanwhile, private residential property prices rose 1.4 per cent in the first quarter, based on figures from the Urban Redevelopment Authority (URA).
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