Singapore private home prices rose at a slower quarterly pace of 6.6 per cent in the last three months of 2007, according to government figures released on Wednesday.
The Urban Redevelopment Authority’s price index for private residential property rose 6.6 per cent in the final three months of 2007, slowing from the 8.3 per cent rise in July-September.
In the whole of 2007, private home prices rose 31 per cent.
The Singapore government said in October that developers could no longer sell uncompleted property on a deferred payment scheme in a bid to reduce speculation in the real estate market.
Other recent measures taken by authorities include raising development charges to make it more expensive for companies such as CapitaLand and City Developments to buy out existing condominiums for redevelopment into larger apartment blocks with more units.
A separate index compiled by the Housing Development Board showed resale prices of government-built HDB apartments rose 5.6 per cent in the fourth quarter, slower than the 6.6 per cent quarterly gain in July-September. — REUTERS
Source : Business Times - 2 Jan 2008
