Latest Market News

Landed homes lift private property market

Saturday 23 January 2010

Landed homes turned out to be the star performer of the private property market last year, rising far more in price than other types of housing. As a whole, detached, semi-detached and terrace houses jumped in price by 8.3 per cent in the fourth quarter of last year and 7.7 per cent for the whole of 2009.


This significantly outstripped condominiums and apartments, according to data released by the Urban Redevelopment Authority (URA) yesterday. Despite rising 7.2 per cent in the fourth quarter, non-landed property registered a meagre 0.5 per cent price increase for last year.


'Landed homes are limited in supply, so people always aspire towards owning one,' said Ms Chua Chor Hoon, head of South-east Asia research at DTZ Debenham Tie Leung. 'When the market was in a slump, some buyers took the chance to buy landed properties. And now that condominium prices have gone up a lot again, people are seeing better value in landed homes.'

Source: The Straits Times