Private home prices up 0.9% in second straight quarterly hike

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Property prices picked up again soon after last year July’s cooling measures. Its continuing rise has made many home buyers hold back their purchasing plans as many still believe that prices will come down due to recession and oversupply of units in the market. However, data has shown that with the rising household income, growing population and positive percentage of employment, it will still drive the demand over in the long term. And what many did not realise is that for property prices to fall, the government will most likely have to step in with more cooling measures. This will result in imposing more stringent regulations, like tightening the Loan To Value and also higher Additional Stamp Duty. Which eventually, making buying more beyond our reach, even to those who are now sitting on the fence.

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