Singapore Private-Home Price Rise Slows Further In 4Q; Weakest Since 3Q 2009
Article from Fox Business:
SINGAPORE – The rise in Singapore’s private-home prices slowed to a crawl in the fourth quarter of 2011, marking the weakest showing since the third quarter of 2009, revised government data released Friday showed.
The prices of private homes rose a mere 0.2% from the previous three months in the October-December period, compared with the third quarter’s 1.3% rise, data released by Singapore’s Urban Redevelopment Authority showed. The pace of increase was the same as URA’s flash estimates released on Jan. 3.
Prices of non-landed private residential properties in Singapore’s core central region rose 0.5% in the fourth quarter, easing from a 0.7% rise in the third quarter, the URA said in a statement, the same pace as its initial estimates four weeks ago.
Meanwhile, property prices in the rest of the central region rose 0.1%, compared with a 1.2% rise in the July-September period. The URA had initially said they were unchanged.
Prices of property outside the central region rose 0.6% on-quarter, compared to 2.1% growth in the third quarter.
Property prices in Singapore, as in China and Hong Kong, rose significantly when the economy rebounded in late 2009. The city-state’s private-home prices had fallen 4.7% on-quarter in the second quar…………………continues on Fox Business
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CBOE to Offer Home-Price Futures Tied to Radar Logic Indexes
Article from Bloomberg:
CBOE Holdings Inc. (CBOE), the biggest U.S. options market by volume, will begin trading of futures tied to U.S. home prices.
Barclays Capital will serve as the designated primary market maker for the contracts, which will be linked to Radar Logic Inc.’s 25-Metropolitan Statistical Area Composite Index, Chicago-based CBOE said today in an e-mailed statement. Contracts on additional indexes from New York-based Radar Logic may be added later, according to the statement.
“We are pleased to partner with Radar Logic to bring to market the industry’s first real estate futures contract featuring comprehensive national residential real estate values and daily pricing,” James F. Lubin, a managing director at CBOE’s CBOE Futures Exchange LLC, said in the statement.
Potential users of the contracts could include mortgage lenders, fixed-income investors, developers and insurers, according to the statement. Trading will start Feb. 2.
Derivatives tied to Radar Logic indexes have been Bloomberg
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