S’pore’s private home prices rise 8% in Q3
Singapore private home prices climbed 8.0 per cent between July and September to their highest level in a decade, early government estimates showed on Monday.
The Urban Redevelopment Authority (URA) said the price index for private residential homes rose to 159.6 for the three months ended September, from 147.8 in the previous three-month period.
The third-quarter gain follows a 8.3 per cent rise in the April-June period and comes after moves by the Government to cool the property market, including redevelopment-charge hikes and the tightening of rules on collective home sales that have seen firms such as CapitaLand and City Developments tear down older buildings to replace them with new projects.
The advance estimates are compiled from transaction prices lodged during the first 10 weeks of the quarter as well as data from new apartments that have been booked.
The URA will release the official price index on Oct 26. — REUTERS
Source : Business Times - 01 Oct 2007
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