SINGAPORE - Resale prices of Singapore government-built HDB apartments rose 3.8 per cent in the third quarter from the preceding three months, accelerating from the gain of 3.1 per cent in the second quarter, local TV reported on Friday.
The Housing and Development Board's estimate of the price increase was unchanged from the preliminary figure released earlier this month.
The number of transactions, however, fell to 5,903 from 6,581 in the preceding quarter.
Resale prices of HDB apartments, which house about 80 per cent of Singapore's 5.1 million population, have been rising faster than prices of homes built by private developers due to a shortage of lower-cost accommodation in the city-state.
Prime Minister Lee Hsien Loong said earlier this month the government hopes to stabilise the housing market in four years.
The Urban Redevelopment Authority said on Friday private home prices in Singapore rose 1.3 per cent in the third quarter compared with the preceding three months - the slowest pace of increase in eight quarters.
Source: Asia one -Oct 31, 2011
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