03 Dec '12, 12pm

No correction in home prices after measures

http://www.businesstimes.com.sg/arch...sures-20121129 Published November 29, 2012 No correction in home prices after measures By Mindy Tan [SINGAPORE] No appreciable correction in overall house prices was seen in October, despite the latest round of cooling measures. Prices of completed private apartments and condominiums (excluding executive condos) rose one per cent in October, fuelled by price increases in the suburban market. Excluding small units, prices of suburban apartments rose one per cent while homes in the Central Region rose 0.9 per cent. Prices of small units (up to 506 sq ft) islandwide rose 0.6 per cent in October. This is despite measures rolled out in October, which include a 35-year cap implemented on loan tenures alongside tighter loan-to- value (LTV) ratios. Liquidity and herd mentality is driving the market said Chua Chor Hoon, DTZ head of APAC Resear...

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