Slight increase in capital value of Singapore homes
The 1.5% increase in the capital value of its homes in H1 2012, compared with a 3.6% increase in the H2 2011, seems to suggest that the cooling measures such as the increased supply and the ABSD are working. However, these measures should not result in a significant slowdown in the short to medium term since demand is still strong, given the strong economy, rising wages and high home ownership rates. Developers had sold 11,928 private homes excluding ECs in H1 2012 75% of the 15,904 units they sold in the whole of 2011. 18,000 to 22,000 units are expected to be sold by the end of 2012, breaking 2010′s record of 16,292 units. The private home price index also increased by 0.4% from Q1 to Q2.
(Source: Business Times)
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