By Mr. Propwise
From the URA’s recent 2Q2013 Private Residential Property Price Index (PPI) release, property prices have continued to defy gravity and have even accelerated – the 2Q2013 Residential PPI was up 1.0% on a quarter-on-quarter basis, versus the 0.6% increase of the previous quarter.
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 21.4% above the previous 2Q2008 peak, and 18.7% above the previous all time high in 2Q1996.
Figure 1 – URA Property Price Index
On the surface, it would appear that the strength of property demand, supported by low interest rates, has outweighed concern over the worrying economic situation in Europe and China, and the prospect of rising interest rates US (and hence globally) when the Fed tapers. And ...
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