SINGAPORE—The pace growth in private-home prices in Singapore slowed for the eighth straight quarter, indicating that the city-state's property market is cooling owing to measures from the authorities to keep prices in check.
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Preliminary data released Monday by the Urban Redevelopment Authority showed private-home prices rose 1.3% in the July-September period from the previous quarter. Home prices were up 2.0% in the second quarter, and rose 2.2% in the first three months of 2011.
Recent macroeconomic and policy developments in Europe and the U.S., where growth has stalled, may temper sentiment further. Singapore's government now expects its economy to expand between 5% and 6% this year, slower than its earlier 5%-7% estimate and sharply lower than the record 14.5% expansion logged in 2010.
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Analysts expect the resale market to help stabilize the pace of price increases at current levels, unless the global economic outlook worsens and damps sentiment in the local market.
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"Price growth is not expected to surge and neither should we expect a sudden drop…unless the euro-zone financial crisis takes another negative turn that sends further shock waves across Asia," said Chua Yang Liang, head of research for Southeast Asia at Jones Lang LaSalle.
He expects property prices to rise between 1% and 1.8% per quarter over the next few periods.
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"Given the currently moderate level of new sales as compared to resale activity...resale market activity is likely to continue to support property prices going forward," Mr. Chua said.
According to the Urban Redevelopment Authority, prices of non-landed private residential properties in the city-state's core central region rose by 0.8% in the second quarter, while the rest of the central region saw prices rise 1.1%.
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URA said that the flash estimates are based on transaction prices from the first 10 weeks of the quarter and that it would give a final update on prices later this month.
As in China and Hong Kong, Singapore's property prices rose significantly when the economy rebounded in late 2009. To prevent a price bubble, regulators in these markets have sought to stem speculative activity through a variety of measures such as raising the supply of land to developers and requiring larger down payments from buyers.
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Public-housing policies announced in August may also help dilute demand for private housing in Singapore. They include maintaining the pace of construction of new public housing and allowing more households to buy such units directly from the government, instead of purchasing them on the resale market.
and other similar
Preliminary data released Monday by the Urban Redevelopment Authority showed private-home prices rose 1.3% in the July-September period from the previous quarter. Home prices were up 2.0% in the second quarter, and rose 2.2% in the first three months of 2011.
Recent macroeconomic and policy developments in Europe and the U.S., where growth has stalled, may temper sentiment further. Singapore's government now expects its economy to expand between 5% and 6% this year, slower than its earlier 5%-7% estimate and sharply lower than the record 14.5% expansion logged in 2010.
can volunteer with long term visit pass?
Analysts expect the resale market to help stabilize the pace of price increases at current levels, unless the global economic outlook worsens and damps sentiment in the local market.
starway international manpower services corp
"Price growth is not expected to surge and neither should we expect a sudden drop…unless the euro-zone financial crisis takes another negative turn that sends further shock waves across Asia," said Chua Yang Liang, head of research for Southeast Asia at Jones Lang LaSalle.
He expects property prices to rise between 1% and 1.8% per quarter over the next few periods.
advantage of globe ofw sim when used in singapore
"Given the currently moderate level of new sales as compared to resale activity...resale market activity is likely to continue to support property prices going forward," Mr. Chua said.
According to the Urban Redevelopment Authority, prices of non-landed private residential properties in the city-state's core central region rose by 0.8% in the second quarter, while the rest of the central region saw prices rise 1.1%.
can a ltsvp work in singapore
URA said that the flash estimates are based on transaction prices from the first 10 weeks of the quarter and that it would give a final update on prices later this month.
As in China and Hong Kong, Singapore's property prices rose significantly when the economy rebounded in late 2009. To prevent a price bubble, regulators in these markets have sought to stem speculative activity through a variety of measures such as raising the supply of land to developers and requiring larger down payments from buyers.
sample letter of invitation for singapore visa
Public-housing policies announced in August may also help dilute demand for private housing in Singapore. They include maintaining the pace of construction of new public housing and allowing more households to buy such units directly from the government, instead of purchasing them on the resale market.
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