02 Jan '13, 1am

Singapore’s Private Home Prices Climb to Record on Sales #RealEstate #Property #Asia

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 prime districts in the quarter, the data showed. In suburban areas, prices climbed 3.4 percent. The benchmark’s property index, which tracks 40 developers, gained 0.9 percent to 790.96 at 11 a.m. in Singapore trading. CapitaLand Ltd. (CAPL), Southeast Asia’s biggest develo...

Full article: http://www.businessweek.com/news/2013-01-01/singapore-s-p...

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