Resale prices has shot up higher than its previous peak in 2007,
The latest price rises for this segment, dominated by upgraders, were relatively modest, but enough to push average prices past the previous high.
PRICES of private, leasehold resale homes have now shot past their previous peak in late 2007, according to a new report by property consultancy DTZ.
The latest price rises for this segment, dominated by upgraders, were relatively modest, but enough to push average prices past the previous high.
The more elite segment of landed resale homes saw the biggest price rises in the first quarter of the year to reach another new high while prime freehold prices edged nearer their previous peak.
more in The Straits Times
More hyped up news from Channel News Asia as well,
SINGAPORE : Demand for new homes in the first quarter of this year more than doubled that of the fourth quarter of 2009.
Property consultancy CB Richard Ellis (CBRE) said response to new projects launched in the first three months of the year chalked up close to 4,000 homes compared to only 1,860 in the previous quarter.
This is despite the introduction of another set of property curbs in February.
The property consultancy firm said this showed the resilience of residential demand from both owner-occupiers and investors.
Nevertheless, CBRE said the property measures seemed to be effective in weeding out short term speculators.
More on Channel News Asia
The market has indeed been moving and the property cycle has proven to be shorter and shorter. The 7-years property cycle myth has no more basis with this good run on the 1st quarter of the year.
