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Singapore's Real Estate Market Surging

Posted: Oct. 16th, 2012  |  By Michael Pearse

Like many of the large cities around the world, Singapore has seen a bit of a boom in their real estate market. With 2012 sales already surpassing those from all of 2011, plus the strongest September in years, signs are looking good for Singapore.

Sales of new private homes in Singapore surged to a three-year high in September, as demand recovered from a seasonally weak August thanks to low interest rates, and amid expectations of stronger liquidity after recent stimulus steps by the world's major central banks.

A total of 2,621 new private-residential units were sold in September, 84% more than a revised 1,427 units in August, showed data published Monday by the Urban Redevelopment Authority. In August, new private-home sales were down 27%.

September's tally is the highest since July 2009, when 2,772 apartments were sold. It brings this year's total to 18,248 units, surpassing the full-year sales record of 16,369 set in 2011.

Read More on online.wsj.com

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