ST : Prime home prices at high

Dec 18, 2009
Prime home prices at high
By Joyce Teo, Property Reporter



Outside the prime districts, the average price of freehold landed resale homes climbed 12.2 per cent this year to reach $860 psf. -- ST FILE PHOTO

PRICES of prime resale landed homes have risen 18.6 per cent this year to reach a new high of $1,447 per sq ft, said a report by DTZ Research on Friday.

It has easily surpassed the previous peak levels achieved in the first quarter of last year when prices of this segment reached $1,293 psf.

Outside the prime districts, the average price of freehold landed resale homes climbed 12.2 per cent this year to reach $860 psf.

This is 7.9 per cent higher than the $797 psf recorded in the first quarter of last year.

'As the Singapore economy has climbed out of recession, the outlook is more sanguine,' said Ms Chua Chor Hoon, head of DTZ South-east Asia Research.

'There would be less panic or euphoric buying in view of the price increases that had already taken place in 2009 and the possibility of more Government measures if prices run ahead of economic fundamentals.'