01 Apr '13, 1am

Singapore Home Price Gains Slow Most in Three Quarters on Curbs - Bloomberg

Singapore Home Price Gains Slow Most in Three Quarters on Curbs - Bloomberg

Singapore home prices climbed at the slowest pace in three quarters after the government imposed more curbs such as higher stamp duties for housing transactions, a government report showed. The island state’s private residential property price index rose 0.5 percent to a record 213.1 points in the three months ended March 31, easing from a 1.8 percent increase in the fourth quarter, according to preliminary estimates released by the Urban Redevelopment Authority today. The advance was the smallest since the second quarter last year. “Measures have taken effect,” David Neubronner, national director at Jones Lang LaSalle’s residential project sales in Singapore, said in a phone interview. “It’s taken out the investors and that’s seen in the slowing prices and sales. Had it been for the curbs, homes sales in the quarter would have much higher.” Singapore’s home sales plunged ...

Full article: http://www.bloomberg.com/news/2013-04-01/singapore-home-p...

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