Singapore Private Residential Market as at 3Q2011
By OrangeTee Research & Consultancy
Private Residential Market
Overall price index at new historical high albeit on declining growth rate
Overall price growth falls for the 8th consecutive quarter
The overall private residential property price index increased by 1.3% in 3Q2011, compared with 2.0% growth in 2Q2011, according to URA’s latest statistics. Though the index is now at a new historical high, the 3Q number marks the 8th consecutive quarters of slower price growth. By property type, prices of landed property continues to lead growth for 7th consecutive quarter. Landed property prices increased by 2.4% whilst non-landed property prices achieved only 1.3% growth in the quarter. Within the non-landed property segment, price growth in the Outside Central Region(OCR) took the lead with 2.1%, followed by the Rest of Central Region(RCR) at 1.2% and the Core Central Region(CCR) at 0.7%. Read more