In a past entry, it was mentioned that Prices of private residential property dropped 6.1 percent in the October-December period from the previous quarter. Refer to the graph above, the price of private residential property is still high- despite drop. The above datas for the private residential property, from URA, showed that the index is held at marginally above 160. This meant that it is holding on quite strongly.. despite strong winds from the financial crisis.
In addition, Prices reportedly slid 2.4 percent in the third quarter after rising for four years. Private home prices fell 4.7 percent after surging 31 percent in 2007, the authority said.
From the graphs, that can only mean that prices are still relatively high and has not really touch base yet... if that is the word to use...
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