28 Feb '11, 1pm

Singapore property prices continue to firm despite cooling measures

Singapore property prices continue to firm despite cooling measures

SINGAPORE : Non-landed private home prices in Singapore galloped higher in January despite the government's recent stringent measures to choke off property speculation. Flash estimates compiled by the National University of Singapore Institute of Real Estate Studies show the overall Singapore Residential Price Index rising by 2.6 percent month-on-month. This is more than double the one percent increase in the index recorded in December. The central region sub-index jumped 2.7 percent to 165.3 points, a reversal from a 0.8 percent decline in December. Meanwhile, the non-central sub-index rose 2.5 percent to 158.8 points, slightly higher than the 2.3 percent increase in December. Analysts say low interest rates and strong economic growth are pushing home prices up. While some analysts say it is too early for the numbers to reflect the full impact of the cooling measures, oth...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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