Author : Editor
The rate of private housing price increase has continued to moderate for nine consecutive quarters, the Urban Redevelopment Authority (URA) said on Friday.
Prices of private residential properties increased by 0.2 per cent in the fourth quarter of 2011, lower than the 1.3 per cent increase in the previous quarter and is the smallest increase since the third quarter of 2009.
For the year 2011 as a whole, prices of private residential properties increased by 5.9 per cent, significantly lower than the 17.6 per cent increase in 2010, the URA said.
Rentals increased by 0.4 per cent in the fourth quarter, less than the 0.8 per cent increase in the previous quarter. For 2011 as a whole, rentals of private residential properties increased by 3.8 per cent, lower than the 17.9 per cent increase in 2010.
Source : straitstimes.com
