08 Jan '12, 7am

Private property price hike eases further in Q4 - Property Auctions ...: Private property price hike eases furth...

prices hit a record high last year, flash estimates released by the Urban Redevelopment Authority (URA) showed that prices of private homes in Singapore rose only 0.2 percent in Q4, down from 1.3 percent in Q3 2011. Many experts said the preliminary figures made up the smallest quarterly growth since Q2 2009. “The confluence of a variety of factors, such as the market cooling measures including those imposed in January 2011, the ramped up state land supply, a cautious economic outlook and increased prudence and price sensitivity have worked to contain price growth,” said Chia Siew Chuin, Director of Research & Advisory at Colliers International. Factoring in the worsening economic situation, Mohamed Ismail, CEO of PropNex Realty, said home buyers and investors may be taking a more cautious approach when buying private homes and “signs of lower land bid prices may indicate ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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