Housing prices in Singapore have reached new heights

21.04.2011 08:28
Articles about real estate | Housing prices in Singapore have reached new heights In the first quarter of 2011 the average cost of housing in the country exceeded the peak of early 2008. Prices went up by foreign buyers, analysts said.

Average cost per square meter in the elite segment of housing was $ 20.7 thousand, and "square" property of the middle class is offered in an average of $ 11.1 thousand, according to the consulting firm Jones Lang LaSalle.

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In the luxury segment of Singapore's important role played by foreign buyers. In the first quarter of 2011 at least half of the transactions took place with representatives from China, Indonesia and Malaysia, reports Property Wire.

From the beginning, the Chinese purchased 63% of real estate whose value ranges from $ 500 thousand to $ 1.5 million, and 32% of the objects, which are valued more than $ 5 million, analysts Jones Lang LaSalle believes that the interest of buyers from China due to stricter conditions of purchase real estate market of China itself.

In this case, the cost of rent in Singapore in the first three months of 2011 remained relatively stable. Prices for luxury property in comparison with the previous quarter rose by only 0.7%.

Content tags: Overseas property
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