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Singapore’s Private Home Prices Climb to Record on Sales

Singapore’s Private Home Prices Climb to Record on Sales - Singapore - property sales

Singapore home prices climbed to a record in the third quarter after developers sold more homes, a government report showed.

The island state’s private residential property price index rose 0.5 percent to 208 points in the three months ended Sept. 30, according to preliminary estimates released by the Urban Redevelopment Authority today. The index advanced 0.4 percent in the previous quarter, which was also at a record.

Singapore in September decided to cap the number of homes that can be developed in suburban projects to curb the increasing trend of so-called shoebox apartments that are smaller in size. The government has been attempting to rein in residential property prices since 2009.


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