Chart of the Day: Mass-market segment drives acceleration in prices
Cue entry of cooling measures.
OCBC Investment Research noted:
Overall private housing prices in Singapore accelerated to a 1.8% QoQ increase in 4Q12 (URA flash estimates), versus 0.6% in the previous quarter.
A major driver of the increase was due to a strong market in the mass-market segment (Outside Central Region – OCR) where prices accelerated to a 3.4% QoQ increase in 4Q12, compared to 1.0% in the previous quarter.
To cool the property market, authorities have implemented its most comprehensive set of property cooling measures since Sep 2009.