Singaporeans just can't get a break can they? Hot on the heels of yesterday news of record high COE, now they are told prices of private non-landed home grew 13.4% in Q4. If the housing market in Singapore can be considered a "bubble", it does seem that the bubble is certainly not bursting as yet.
Resale prices of private non-landed homes jumped 13.4 per cent on-year in the fourth quarter last year, according to flash estimates put out by the Singapore Real Estate Exchange (SRX).
SRX compiles data from 11 top property agencies in Singapore.
It said non-landed private resale home prices continued its uptrend to hit S$1,233 per square foot in the fourth quarter (Q4), compared to S$1,157 per square foot in the third quarter (Q3) in 2012.
Resale units in the mass market segment led the gain with a 4.8 per cent increase over Q3, while those in the city fringes saw prices climb 3.6 per cent.
But it was the core central region which saw a higher-than-expected growth of 4.6 per cent in Q4.
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