06 Jul '11, 3pm

Conflicting signs in Singapore property market

SINGAPORE : Most indicators are pointing to a gradual moderation in the property market in Singapore. But latest figures showing a 1.4 per cent month-on-month growth in home loans have got some analysts wondering if the outlook is as clear cut. Latest figures from the Monetary Authority of Singapore (MAS) showed that building and construction loans growth in May fell 13 per cent month-on-month to S$59 billion. New private home units sold in May also fell 13 per cent to 1,575, compared to 1,805 units a month ago. The Urban Redevelopment Authority's (URA) private residential property price index also showed that private home prices have been moderating for seven consecutive quarters. However, home loans increased by 1.4 per cent increase in May to S$119.7 billion, representing a 0.3 percentage-point rise after falling 0.2 percentage-point in the previous month, suggesting th...

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

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