Home prices up 17.6% in 2010

Prices of non-landed properties increased by 14.0% for year of 2010 as a whole.

According to Urban Redevelopment Authority, overall prices of private residential properties increased by 2.7% in 4th Quarter 2010, compared with the 2.9% increase in the previous quarter. For the whole of 2010, prices had increased by 17.6%, compared with the 1.8% rise in 2009.

Prices of non-landed properties increased by 1.8% in 4th Quarter 2010, compared with the 1.6% increase in the previous quarter. For the year 2010 as a whole, prices of non-landed properties increased by 14.0%. Prices of apartments increased by 2.4%, while prices of condominiums increased by 1.6% in 4th Quarter 2010.

Prices of non-landed properties in Core Central Region2 increased by 2.2% in 4th Quarter 2010, and prices of non-landed properties in Rest of Central Region3 and Outside Central Region increased by 1.9% and 2.1% respectively.

Prices of landed properties increased by 5.5% in 4th Quarter 2010, compared with 7.7% in the previous quarter. Prices of detached, semi-detached and terrace houses increased by 8.5%, 3.1% and 3.7% respectively in 4th Quarter 2010.