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January 3, 2012, 8.34 am (Singapore time)

Q4 growth in S'pore pte home prices up 0.2%

By BERNICE BONG


SINGAPORE - The rate of increase in private residential property prices continued to moderate in the fourth quarter last year with the Urban Redevelopment Authority's private residential property index rising only 0.2 per cent from the 1.3 per cent increase in the previous quarter.

Flash estimates of the URA private residential property index rose to 206.2 points in 4th quarter from 205.7 points in 3rd quarter 2011, easing its growth for the 9th consecutive quarter since 4th quarter 2009.

Prices of non-landed private residential properties increased by 0.5 per cent in Core Central Region and by 0.6 per cent in Outside Central Region in the quarter. There was no change in the prices in Rest of Central Region.

In comparison, in 3rd quarter 2011, prices of non-landed private residential properties increased by 0.7 per cent in Core Central Region, 1.2 per cent in Rest of Central Region and 2.1 per cent in Outside Central Region.

Analysts expect housing prices to fall in the coming months after the government imposed a 10 per cent stamp duty in December on non-resident foreign buyers.

The flash estimates are compiled based on transaction prices given in caveats lodged during the first ten weeks of the quarter supplemented by information on the number of new units sold by developers.