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Mass market buyers prop up home prices
Sat, Jul 25, 2009
The Straits Times

By Fiona Chan

THEY were shut out of the property market during the most recent boom in 2007, when furious demand for luxury homes drove up home prices far beyond their reach.

Now, buyers of cheaper mass market homes - defined loosely as bigger HDB flats and condominiums in the suburbs - are back in the market with a vengeance.

They doubled their purchases of five-room and executive HDB flats between March and June, pushing overall HDB prices up 1.4 per cent to hit a new high in the quarter, according to Housing Board (HDB) data released yesterday.


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