Tuesday, January 31, 2012

Small apartment prices climb 11.8% in 2011

Business Times: Tue, Jan 31
(SINGAPORE) Prices for small apartments islandwide as well as for larger apartments outside the Central Region rose about twice as fast as prices of larger apartments in the Central Region last year. This trend, while similar to the one in 2010, was more pronounced last year.

According to flash estimates released by the National University of Singapore for its Singapore Residential Price Index (SRPI) series, the sub-index for small apartments islandwide (up to 506 square feet) rose 11.8 per cent for the whole of 2011.

The sub-index for Non-Central Region (excluding small apartments) climbed 11.7 per cent while that for Central Region (excluding small apartments) increased 5.7 per cent in 2011. Central Region comprises Districts 1-4 (which includes the financial district and Sentosa Cove) and the traditional prime residential districts of 9, 10 and 11. The overall SRPI rose 9.2 per cent last year...

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