06 Jun '11, 10am

S'pore luxury home prices moderate in Q1: By Julie Quek | Posted: 06 June 2011 1815 hrs SINGAPORE : Prices of lu...

S'pore luxury home prices moderate in Q1: By Julie Quek | Posted: 06 June 2011 1815 hrs SINGAPORE : Prices of lu...

SINGAPORE : Prices of luxury homes in Singapore have moderated in the first quarter of this year due to property cooling measures, data from CB Richard Ellis' (CBRE's) Asian Luxury Residential Capital Value Index showed on Monday. The measures, announced in January, included raising seller's stamp duty and reducing credit available to those who already have outstanding mortgages. CBRE said the increase in prices of luxury homes in the core central region moderated to 0.9 per cent quarter-on-quarter, while sales volume was also down by 20.4 per cent. Prime rents in Singapore remained unchanged, but CBRE said they appeared to show signs of softening towards the end of the quarter, along with the slowdown of expatriate leasing demand. Commenting on the outlook of luxury residential markets in Singapore, Joseph Tan, executive director of residential at CBRE said that with the ...

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

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