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October 28, 2011, 8.35 am (Singapore time)

Growth in S'pore pte home prices slows further

By BERNICE BONG


SINGAPORE - Prices of private residential properties increased by 1.3 per cent in third quarter 2011, lower than the 2.0 per cent increase in the previous quarter.

The Urban Redevelopment Board (URA) said in a news release on Friday, the three months to September was the eighth consecutive quarter in which the rate of increase in overall private housing prices had moderated.

Prices of non-landed properties in Core Central Region increased at a slower pace of 0.7 per cent in third quarter 2011, compared to the 1.6 per cent increase in the previous quarter.

For Rest of Central Region (RCR) and Outside Central Region (OCR) prices increased by 1.2 per cent and 2.1 per cent respectively in the third quarter 2011, slightly higher than the 1.1 per cent and 1.7 per cent increase in the previous quarter.

URA said rents of private residential properties rose by 0.8 per cent in the three months ended September, less than the 1.3 per cent rise in the preceeding period.