28 Jan '11, 10pm

Property price growth slows: by Joanne Chan SINGAPORE - Reaffirming earlier flash estimates, official housing fi...

SINGAPORE - Reaffirming earlier flash estimates, official housing figures unveiled on Friday showed that the growth of property prices slowed in the fourth quarter of last year. Prices of public flats grew by 2.5 per cent in Q4 - down from 4-per-cent growth in the previous quarter - while private home prices rose 2.7 per cent in Q4, down from 2.9-per-cent growth in Q3. In the HDB resale market, prices grew at a blistering 14.1 per cent last year. But there are signs that it is cooling: Transaction volume fell by 21 per cent to 6,454 in the fourth quarter, while the median cash-over-valuation (COV) dropped $7,000 to $23,000. Moving forward, analysts expect property prices in general to stabilise this year, rising between 1 and 2 per cent each quarter. SLP International director of research and consultancy Nicholas Mak said: "The fall in COV level is an indication that Gover...

Full article: http://www.todayonline.com/Singapore/EDC110129-0000240/Pr...

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