Source : The Straits Times, Oct 1, 2007
HOME prices grew strongly in both the private and public sectors, latest data from the Urban Redeveloment Authority and Housing and Development Board showed on Monday.
Private homes climbed 8.0 per cent between July and September to their highest level in a decade, the URA flash estimate revealed. 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.
Such measures include 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 HDB third quarter Resale Price Index (RPI) increased 6.5 per cent to 115.0 over the previous quarter.
The URA 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.
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