28 Feb '11, 10pm

TODAYonline | Business | Singapore Residential Price Index up in Jan via @TODAYonline

SINGAPORE - Non-landed private home prices galloped in January, despite the stringent measures announced by the Government to cool the exuberance in the property market. Flash estimates released by the National University of Singapore Institute of Real Estate Studies showed that the overall Singapore Residential Price Index rose 2.6 per cent month-on-month. That is more than double the 1-per-cent increase in the index in December. The central region sub-index, comprising postal districts 1 to 4 and 9 to 11, jumped 2.7 per cent to 165.3 points - a reversal from a 0.8-per-cent decline in December. Meanwhile, the non-central sub-index, composed of all remaining districts, rose 2.5 per cent to 158.8 points - slightly higher than the 2.3-per-cent increase in December. Analysts said low interest rates and strong economic growth are pushing home prices up. Some analysts said it i...

Full article: http://www.todayonline.com/Business/EDC110301-0000242/Sin...

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