By Jessica Cheam

PRICES of HDB flats staged a surprising comeback, rising 1.2 per cent in the second quarter after dipping 0.6 per cent in the first quarter this year.

Flash estimates from the Housing Development Board (HDB) on Wednesday showed the resale price index rising to 140 - an all-time record high.

Market analysts attribute this increase to the continued demand for HDB resale flats, where cash needed to buy a flat, or cash-over-valuation (COV), has come down since the global economic fallout began last year.

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