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Reason why prices for HDB flats keep going up – even during a recession

The price of a four-room flat in Tampines is about $370,000 now, some $40,000 more than the price early last year - and this is largely due to the higher valuation price.Instead of helping to stabilise prices, the HDB's spike in valuation has been instrumental in increasing resale prices.

Tan Say Yin, letter to Straits Times forum page