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Greater stability in public housing prices in 2015: Khaw

December 29, 2014 2:44 PM SGT

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SINGAPORE (Dec 29): Public housing prices in Singapore will be more stable in 2015 following the government's move to increase supply in recent years, says National Development Minister Khaw Boon Wan.

This year marked the turn of the housing market, with HDB prices moderating and the market shifting in buyers' favour, he wrote on his blog today.

Resale flat prices fell 1.7% in 3Q2014 from the April to June period, the fifth straight quarter of decline, according to HDB data.

The shift is not complete and "2015 should see greater stability", said Khaw.

HDB completed 28,000 new flats in 2014 - "quite a record" for the statutory board in recent years, according to the minister.

Some 26,000 new flats will be completed next year and handed over to buyers.

Fewer flats - 16,900 units - will be launched in 2015 though.

"We are scaling down the pace of construction but remain proactive on refining our policies to meet diverse housing needs of flat buyers and home owners: singles, married couples who wish to live together with or close to their parents, seniors who wish to monetise their large flats, etc," he said.

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