Wednesday, February 29, 2012

Property mass-market starts post-ABSD recovery

Business Times: Wed, Feb 29
(SINGAPORE) The mass- market segment has begun to recover from its knee-jerk reaction to the additional buyer's stamp duty (ABSD) introduced in December, but the upmarket private homes in the Central Region are still suffering.

Prices of completed private apartments (excluding smaller ones) in Non-Central Region rose 1 per cent in January, compared to December.

But according to the flash estimates of NUS' Singapore Residential Price Index (SRPI), prices of completed properties in the Central Region softened a further 1.9 per cent, relative to the previous month. Small apartments (up to 506 sq ft) also saw their prices fall 1 per cent, compared to December...

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Martin Koh/ Sherry Tang
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