Record High For Singapore Property Prices-Malaysian Top Foreign Buyer

Telegraph.co.uk

By AP/Leah Hyslop
Published: 10:33AM BST 16 Jul 2010

Prices for property in Singapore have reached a record high, as the island-state becomes increasingly attractive to foreign investors.

Private residential property prices rose 5.2 per cent in the second quarter to the highest level since the government began the index in 1975, the Urban Redevelopment Authority has said.
Prices rose 5.6 per cent in the first quarter, bouncing back strongly after diving 25 per cent in the 12 months to mid-2009. This means there has been an overall 10.8 per cent price increase in the last two quarters alone.

Singapore’s low crime rate, good schools and low taxes mean that expatriates and investors are increasingly attracted to the property market.