02 Mar '11, 10pm

S'pore luxury prime home prices remain stable: However, the high end market has been more subdued over the same

Prices for Singapore's luxury prime homes have remained stable for the second consecutive quarter. In its latest report on residential homes, property consultant Jones Lang LaSalle said prices in the fourth quarter of last year were unchanged from the third quarter as buyers remained cautious after recent government tightening measures. Hong Kong led the rise in the luxury segment, with quarter-on-quarter prices up 6.4 per cent despite the latest round of government measures aimed at curbing speculative demand. Overall, the Singapore mass residential market increased by 12 per cent last year driven by positive sentiment on the back of strong economic performance. However, the high end market has been more subdued over the same period with prices increasing 9 per cent. The real estate firm said luxury markets in Hong Kong and Singapore should retain some price momentum due ...

Full article: http://www.todayonline.com/Business/Businessinbrief/EDC11...

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