HDB prices on its way down.April 15, 2009 HDB prices on its way down By Jessica Cheam GOOD news for home buyers eyeing the resale flat market: About one-third of HDB sales in the first quarter were struck at or below the flat’s valuation price. The level in some areas was far higher. In Sengkang, for instance, up to three in four five-room flats sold by ERA Asia Pacific were done at or below valuation. This means those buyers did not need upfront cash to buy their dream home. Analysts say the trend indicates HDB flat prices are now coming down at a quicker rate after holding up better than many private residential properties. In the recent market boom, many sellers sought prices well above valuation - a figure set by an independent valuer. Buyers can use Central Provident Fund savings to pay for a flat only up to its valuation amount. They must stump up cash for any premium they pay above valuation. The property agencies surveyed by The Straits Times, HSR Property Group, PropNex, ERA Asia Pacific (more...)