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Condo resale prices may reach historic high in fourth quarter

Published on Dec 7, 2012 4:44 PM
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File photo, high-rise condominium buildings in the Singapore city centre and outskirts on 1 February 2011. The last quarter of the year is shaping up to be a strong one for the property market, with condominium resale prices already at a historic high for the first two months. -- ST PHOTO: ALPHONSUS CHERN

The last quarter of the year is shaping up to be a strong one for the property market, with condominium resale prices already at a historic high for the first two months.

The average condo resale price rose to $1,222 psf for October and November, the Singapore Real Estate Exchange (SRX) said on Friday.

This was 5.4 per cent higher than the $1,159 psf average recorded during the third quarter of the year.

SRX compiles transactions from estate agencies and is based on pre-caveat resale transactions for non-landed private properties.