New private home prices up 7.9% in 2018 despite cooling measures

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Since the cooling measures, the real estate market has been on the quieter side. However, after the market adjusted to the new ruling last July, the prices have appeared to make a recovery.

Although there were slower private sales in the month of December due to the festive season and most showflats being closed, the price of the sale in January have appeared to gain 7.9 per cent last year compared with a 1.1 per cent rise in 2017.

This is a huge increase in confidence for consumers as the prices stabilize and show potential in the grow of their assets and purchases for the coming year.

Landed home prices fell 2 per cent in the fourth quarter but non-landed property prices edged up 0.5 per cent after a quiet month in December. This shows that potential in new private homes sales of non-landed properties are in a higher demand than landed homes.

Source: https://www.straitstimes.com/business/property/new-private-home-prices-up-79-in-2018-despite-cooling-measures

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