By Mr. Propwise
From the URA’s recent flash estimate of the 4Q2012 Private Residential Property Price Index (PPI), property prices have continued to defy gravity and have even accelerated quarter-on-quarter. The 4Q2012 URA PPI flash estimate hit 211.9 and was up 1.8% on a quarter-on-quarter basis.
Singapore property prices at an all-time high…
Based on analysis of the URA numbers done by the Singapore property research site PropertyMarketInsights.com, at the current levels the price index is 19.4% above the previous 2Q2008 peak, and 16.8% above the previous all time high in 2Q1996.
Figure 1 – URA Property Price Index (based on 4Q2012 flash estimate)
This estimated increase of 1.8% comes after last quarter’s 0.6% quarter-on-quarter increase, indicating an accelerating pace of price growth. It appears that the strength of property demand, supported by low interest rates, has outweighed concern over the recession ...
...