Real estate prices in Singapore

This article examines some of the latest trends in Singapore property prices. Most indicators suggest that the price is moving further north.

The quarterly price index compiled by the Urban Development Plan (URA) shows that private residential real estate prices rose 0.6% in the third quarter of 2012; while the price increase in the second quarter of 2012 was only 0.4%. To get more details about Pullman residences prices you may check here

Real estate prices in Singapore

Image Source: Google

A similar upward trend is observed in the Singapore Housing Price Index (NUS) in Singapore (SRPI) developed by the Real Estate Research Institute. Unlike the URA price index, the SRPI is a monthly index that only takes into account developments in the price of private non-rural residential real estate.

However, the URA price index covers a wide range of property categories. Specifically for private non-terrestrial housing, the URA index shows a price increase of 0.5% in two consecutive quarters. The SRPI reflects a 0.6% increase for September 2012.

For the public housing landscape in Singapore, the HDB resale price index has recorded a steady increase in HDB resale price since the first quarter of this year. With figures corresponding to 0.6, 1.3 and 2% for the first, second and third quarters

Based on a study by Don from New York, Assoc. Prof. Tikal Absinthe, property prices in Singapore have risen above the affordable level of 4 percent per year. This figure is based on a Singaporean lifetime income.

The continued boom in house prices coupled with quantitative easing measures in the US, Japan, and Europe have led governments in Singapore, Malaysia, and Hong Kong to take cooling measures to prevent homebuyers from being overloaded.