The latest figures from Urban Redevelopment Authority (URA) show that private home prices increased by 7.4% in the last quarter of 2009. This compares with the 15.8% rise in the preceding quarter.Prices for non-landed properties increased by 7.2% in 4th Quarter 2009. This was markedly reduced from the 15.9% increase in the previous quarter.
In 4th Quarter 2009, prices of apartments and condominiums increased by 9.7% and 6.1% respectively. For the year 2009 as a whole, non-landed property prices rose by 0.5%.
A larger gain of 8.3% was recorded for the prices of landed properties in 4th Quarter 2009. This segment saw a 14.9% increase in the preceding quarter.
Prices of detached, semi-detached and terrace houses increased by 7.9%, 7.6% and 9.4% respectively in 4th Quarter 2009. The whole of year 2009 saw prices of landed properties gained by 7.7%.
URA added that “the prices of private residential properties are not uniform and vary from project to project.”
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