Home prices slip but the 'centre' still holds
Central region resists overall dip for now, but luxury market also expected to stay flat

By KALPANA RASHIWALA from the Business Times, 29th March 2011

Prices of completed private apartments and condos have slipped slightly, overall, as the government's cooling measures made themselves felt. But those in the most posh part of town are still holding their own.


Latest flash estimates for February from the National University of Singapore show a weaker month-on-month performance in price indices compared to January.

'The Jan 13 cooling measures are certainly working,' said Knight Frank chairman Tan Tiong Cheng. 'The lower loan-to- value limit has affected investors with outstanding housing loans even if they have some financial capacity to purchase another residential property.'

NUS's overall Singapore Residential Price Index (SRPI) dipped 0.4 per cent month on month in February, a reversal of a gain of 2.9 per cent posted in January.

The sub-index...