HDB resale prices to rise
http://www.straitstimes.com/Breaking...ry_424538.html
Sep 2, 2009
HDB resale prices to rise
By Joyce Teo
HDB resale flat prices - already at record high levels - are likely to continue rising this year, said National Development Minister Mah Bow Tan on Wednesday.
'The flat prices would probably go up ... by 1 per cent, 2 per cent,' said Mr Mah. 'It will just keep on going up if the economy recovers as people expect, and if confidence returns but affordability will always be there.'
HDB resale prices rose 1.4 per cent in the second quarter to a record high.
Resale flat prices go up in tandem with a very strong market, Mr Mah told reporters at the launch of the final skybridge at The Pinnacle@Duxton on Wednesday.
'We subsidised you when you buy and we increased the value of your flat when you live in it and... facilitate you to monetise it when you grow old. This is the best form of investment and welfare for the people,' said the minister.
Standing at 50 storeys, The Pinnacle@Duxton is Singapore's tallest public housing development.
It sits on the site of the area's first two HDB blocks, which were built 50 years ago. It was the first project in which an international architectural competition was called to get the best design ideas.
