Posted: 02 January 2013 0931 hrs


Prices of private homes in Singapore rose to new record highs in the fourth quarter, mainly because of strong demand in the suburban areas.

Preliminary data released by the Urban Redevelopment Authority showed the private residential property price index rose 1.8 per cent to a record 211.9 points in the October-to-December period from the previous three months.

The home price index had risen 0.6 per cent in the previous quarter.

Prices of private residential properties increased by about 2.8 per cent in 2012, the pace easing from the 5.9 per cent increase in 2011.