Source : The Business Times, April 25, 2008
Singapore private home prices rose 3.7 per cent between January and March, the second straight quarter of slower growth as property sales slowed, government figures showed on Friday.
The Urban Redevelopment Authority (URA) said the price index for private homes, an indicator of inflation that is already at 26-year highs, rose to 177.2 for the three months ended March, from 170.8 in the previous three-month period.
Private home prices jumped 31 percent in 2007 for the largest increase in eight years, but growth has slowed since the final quarter of 2007 while the Jan-March sales volume slumped to the lowest since 2003.
Moves by the government to cool the Singapore housing market, coupled with fears of a global economic downturn, have kept homebuyers away from showrooms and are expected to hit developers such as CapitaLand and City Developments. -- REUTERS
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