Daily Briefing: Developers get creative to sell units; Resale flat prices slip 0.1% in Q1

And private home prices down 0.7% in Q1.

To entice home buyers amidst the challenging housing market, developers are resorting to new marketing gimmicks, like holding games where everyone wins a prize, organising trips to Singapore, and launching their projects in other countries, reported The Straits Times. For instance, Kingsford Development held a ‘Property Tycoon Challenge’ for buyers of Kingsford Hillview Peak in Upper Bukit Timah over the weekend. Read more here.

HDB resale flat prices fell by 0.1 percent in the first quarter of 2016 from the previous three-month period, according to latest statistics from the Housing and Development Board (HDB). The number of transactions in the resale market also dropped by 10.9 percent from 4,992 cases in Q4 2015 to 4,449 cases in Q1 this year. Find out more here.

Prices of private residential properties in Singapore fell by 0.7 percent in the first quarter of 2016, compared to the 0.5 percent decline in the previous quarter, according to complete data released by the Urban Redevelopment Authority (URA) on Friday, 22 April. In the Outside Central Region (OCR), prices dropped by 1.3 percent after remaining unchanged in the previous quarter. Read more here.