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Singapore residential property prices rising - 5 July 2011

Prices of private residential property in Singapore is rising faster in the second quarter of 2011 than it did in the first three months of the year, new research suggests.

Average resale prices of leasehold condominiums in suburban areas increased the most at 3.9% quarter on quarter, compared to 0.8% in the previous quarter, according to DTZ.

The average resale price of freehold condominiums in the prime districts of 9, 10 and 11 grew by 3.3% quarter on quarter compared to 0.4% in the first quarter, based on a basket of completed condominiums tracked by DTZ Research.

The average resale price of luxury condominiums rose the least at 1.7% but DTZ Research said it reflected an increase over the flat prices registered in the first quarter. This it said is the only segment with prices still below the 2007 peak.

Source: PropertyCommunity.com

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