Cheyenne Hollis | Nov 29, 2012 | Comments 0
Cooling measures appear to be working in Singapore but that did not stop resale home prices from rising in October.
Private resale home prices in Singapore rose by 1 percent in October, marking a similar rate of increase as the country saw in September, Today reported.
The figures are part of the Singapore Residential Price Index (SRPI) flash estimates published by the Institute of Real Estate Studies at the National University of Singapore (NUS IRES).
In the report, NUS IRES said thw property cooling measures have had "transient effects" on housing prices in Singapore, however, it acknowledged that the measures have helped reduce volatility in prices.
The report added that there has been no significant decrease in overall home prices despite the introduction of new measures in October to cap tenures for bank property loans.
The SRPI also showed that the number of private resale homes sold in October rose compared to the month before, based on the November data.
Filed Under: Country News • News • Singapore
Article source: http://www.thethailandlinks.com/2012/11/29/resale-home-prices-in-singapore-rise-again/
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