April 21, 2008
First-quarter home price data due on Friday
WHAT IT IS
THE Government will release information on property prices and rents for the first three months of the year on Friday.
This extensive data will cover private homes, HDB flats, offices, shops and industrial properties.
Preliminary estimates of first-quarter home prices earlier this month showed that the boom over the past two years is now flattening out.
WHAT IT MEANS
The property market has been hit by a malaise that has sent home sales plummeting.
Prices have mostly held steady, but the strain is starting to show, with developers and home owners beginning to lower their offers.
Friday's data will make it possible to carry out more in-depth analysis into the softening market and help experts predict if it will weaken further.
FIONA CHAN
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