02 Jan '13, 1am

Singapore's Private Home Prices Climb to Record on Sales - Bloomberg

Singapore home prices climbed to a record in the fourth quarter after developers sold more homes, a government report showed. The island state’s private residential property price index rose 1.8 percent to 211.90 points in the three months ended Dec. 31, according to preliminary estimates released by the Urban Redevelopment Authority today. The index advanced 0.6 percent in the previous quarter, which was also at a record. Prices rose 2.8 percent in the year compared to a 5.9 percent gain in 2011, data from the Authority showed. Prices of non-landed private residential properties increased 0.8 percent in the prime districts in the quarter, today’s data showed. In suburban areas, prices climbed 3.4 percent. Singapore is seeking to sell land to add as many as 14,000 new homes in the first half of 2013 as the government moves to prevent excessive gains in home prices. The gov...

Full article: http://www.bloomberg.com/news/2013-01-02/singapore-s-priv...

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