Prices of private property have increased by 7.4% in Q4 2009. The property price index has hit 165.7, not too far from the initial flash estimate of 165.5. Prices of private residential properties have increased by 1.8% for 2009.
See quote from URA News release
For the year 2009 as a whole, prices of non-landed properties in CCR decreased by 1.8%, while those in RCR and OCR increased by 3.0% and 11.8% respectively.
Core Central Region = (D9,10,11, Orchard, Marina Bay and Sentosa)
Rest of Central Region = (Toa Payoh, Marine Parade, Telok Blangah, etc)
Outside Central Region = (Jurong, West Coast, Tampines. etc)
Since March 2009, prices has rebounded strongly but has not reached the peak of 2008. Looking ahead at 2010, prices are expected to go up with the recovery of the world economies. Consultants generally predict 8 to 15 per cent increase this year for URA's overall private home price index, with greater upside for high-end homes.
See more at URA News Release
