The price war has begun
8 November 2013, TODAY
The Urban Redevelopment Authority (URA) released the data for the third quarter 2013 and the Private Property Index (PPI) for residential properties showed an increase of 0.4 per cent over the previous quarter. Growth, despite the harsh measures around Total Debt Servicing Ratio (TDSR) meted out at the end of June.
The key reason for the PPI’s growth was the 2.2 per cent increase in the price index of non-landed properties in the mass market, Outside Central Region (OCR). Prices of non-landed properties in the Core Central Region (CCR) fell 0.3 per cent while those in the Rest of Central Region (RCR) fell 0.9 per cent.
Getting into the details, we see ...