Singapore's residential real estate market continues to grow at an alarming rate, despite the government's efforts to keep the situation under control, according to Opp-connect.com citing data from Savills analysts the company in October. In July 1946 new home sales were recorded, which is 42% more than the same period last year. Total number of sales in 2012 to date was - 15 300 is almost the same as it was for the entire 2011 year. During the second quarter of 2012, residential property prices in Singapore rose 1.9%, the report says Urban Redevelopment Authority. Singapore ranked first in the world among the cities in which the highest rate rose in price luxury housing in the past five years. Now the price is about $ 20,064 per square meter, which is 9% higher compared to 2011. Analysts also predict the return of foreign investors in the Singapore market, which may contribute to its development. "While the global economy is going through one crisis after another wave, residential real estate market in Singapore in recent years shows a solid and steady growth, which undoubtedly is a good trend," he expressed his opinion Alan Chong, an expert company Savills Research. To avoid creating a bubble in the market, the Singapore government has already taken a number of measures. In particular, it has increased the size of down payment for the provision of a second mortgage and put on sale the real estate tax, which the owner has less than three years. Tangible results of these measures are not given. HomesOverseas.ru
