Sunday, January 29, 2012

Record number of homes to be built, further easing prices

Straits Times: Sat, Jan 28
THE latest housing data shows that a record number of uncompleted private homes are in the works, in the wake of an unprecedented roll-out of land parcels by the Government in recent years.

The aim was to cool prices and property analysts say it seems to be working.

They believe private home prices will flatten or even fall against this backdrop after moderating sharply in the three months to Dec 31 across residential, commercial and industrial property.

Semi-detached home prices fell, the first segment to move lower since 2009.

The data from the Urban Redevelopment Authority (URA) released yesterday showed a supply of 77,089 uncompleted homes as at Dec 31 - the highest figure since data was first made available in 1999...

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