Singapore Q2 public housing resale prices register lowest growth since 2009

2013-07-26 04:32:47 GMT2013-07-26 12:32:47(Beijing Time)  Xinhua English

SINGAPORE, July 26 (Xinhua) -- Singapore's resale price index for public housing flats, which are built and sold by the government to local resident households, rose slightly by 0.5 percent in the second quarter after several rounds of cooling measures, the country's Housing Development Board (HDB) released on Friday.

The Q2 index is lower than the 1.3 percent growth in the previous quarter and the lowest quarterly growth since the first quarter in 2009.

But resale transactions rose by 21 percent to 5,235 cases in Q2, up from 4,335 cases in Q1.

The city-state has introduced several rounds of cooling measures to curb high level growth in property market, including increasing extra stamp duty for foreigners, permanent residents and also the citizens, and a cap on the size of bank housing loans.

On the other hand, the government also ramped up the supply side by increasing the units of public housing flats. The HDB said on Friday that it is "on track to launch 25,000 Build-To-Order ( BTO) flats for the whole of 2013."

In the first half of this year, the HDB offered 12,144 new flats under its BTO exercises.

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