2012 record year for property market

2012 record year for property market

Despite six rounds of cooling measures in the last couple of years, the private property market continued its uptrend unabated in 2012. Although data for December is yet to be out, but both sales volume and prices of new private homes have already surpassed previous highs. In the past two years, the Yaps have bought four private properties, three of which were in 2011. They hold to the view that property investments are a good hedge against inflation. But with property prices hitting the roof, the family of four is finding it increasingly difficult to find new investment opportunities. Prices of private homes have gone up by 3.7 per cent so far this year, according to Savills. And experts expect marginal increases in 2013. A property investor, Soh Poh Neo, said: “Even if rental is coming down, we still can support the mortgage payment because loan-to-value (LTV) is very mu...

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