Private home prices down slightly in February: NUS Index

Private home prices in Singapore fell slightly in February, according to the NUS Singapore Residential Price Index.

The overall index fell 0.4% from January.

The index covers completed non-landed properties in the central and non-central regions.

The index for properties in the central area rose 1% in February, but that for non-central properties showed a decline of 1.5% from the previous month.

The figures followed steps taken by the government in January to cool speculation in the property market.

The measures included higher stamp duties for sellers and a reduction in the amount of credit available to those who already have outstanding mortgages.

The NUS Private Residential Price Index is a transactions-based indicator that tracks the month-on-month price movements of private, non-landed residential properties in Singapore.

Source : Channel NewsAsia – 28 Mar 2011

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