Singapore's
measures to cool the property sector had a stronger effect on prices in
the private housing segment in the third quarter than initially
estimated.
Final data released on Friday by the Urban Redevelopment Authority (URA) showed that overall private residential prices rose 2.9 per cent from the second quarter, slowing sharply after a gain of 5.3 per cent in the previous three months. URA's initial estimate was for a 3.1 per cent increase in prices in the third quarter. URA data showed that although prices rose more slowly than in any of the previous four quarters, they still climbed to a new record. Prices of landed properties bucked the downtrend, increasing by 7.7 per cent in the third quarter, compared with a 6.2 per cent gain in the previous quarter. Rents of private residential properties rose 3.6 per cent in the third quarter, lower than the 5.9 per cent increase in the April-June period. New launches and take-up rates were also affected by the cooling measures. A total of 3,501 uncompleted private homes were launched in the third quarter, down from the 4,180 units in the previous three months. As many as 3,561 uncompleted private homes were sold last quarter, a drop from the 3,955 units sold between April and June. 22 October 2010 channelnewsasia.com |
Paul Poon (65) 8181-7777 Paul Poonsiriwong (65) 8181-7777 Top Achievers 2005-2007, Asia Pacific Elite Award 2007, TopGun Academy 2005, Million Dollars Club, Prime District Realtor, Commercial Realtor, New Projects Realtor, B.Arch.,Dip in Comp.Sc.,CEHA Agency Licence: L3002382K CEA Licence: R027740E Websites: www.i-lander.net www.expatcondo.com www.paulpoon.biz www.singaporeoffice.net Micro Sites
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Private residential prices rise 2.9% in Q3posted Oct 22, 2010 4:13 AM by Poon Paul [ updated Oct 22, 2010 4:15 AM ] |