Resale prices of public housing fall first time in 2013 since 2005

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The year 2005/06 marked the year where singapore economy made a turn for the better. With the introduction of two integrated resorts a year later, which brought in billions dollar of investment and together with China extraordinary economy booms, singapore has recovered quickly from the '98 asia financial crisis and the 2002 SARS epidemic to scale greater high once more.

[THE Housing & Development Board (HDB) announced on Friday that the resale price index (RPI) fell to 201.7 in the fourth quarter of 2013, down 1.5 per cent from 204.8 in the third quarter. For the full year 2013, the RPI registered a decline of 0.6 per cent, in what is the first annual decline since 2005. Resale transactions decreased by 12 per cent from 4,529 cases in Q3 2013 to 4,001 cases in Q4 2013. The number of resale transactions for the full year of 2013 stood at 18,100 - a decrease of 28 per cent over 2012.]