The full article can be found in The Business Times, Page 3, 28 July 2018.
According to Urban Redevelopment Authority (URA), prices of landed properties increased 4.1 per cent and non-landed properties increased 3.2 per cent in the first half of 2018. This makes up to a 7.4 per cent increased in private residential prices. Transaction volume of private homes excluding executive condominiums has also soared to a five-year high.
ZACD Executive Director and Chief Investment Officer, Nicholas Mak said that the price index for residential price property index is expected to rise by 8 to 12 per cent year-on-year for 2018.
Analysts said that the property cooling measures will slow down the growth in private residential prices for the remainder of the year.
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A version of this article is also published in The Straits Times, Business Section, Page C3, 28 July 2018, with the headline ‘Cooling measures may keep lid on private home prices’. Click here to read the article.