Citigroup says there is no "bubble" on house market in Singapore

Source: Bloomberg
© Scanpix/Reuters
Citigroup Inc. economists said on Monday that concerns about housing bubble in Singapore are highly overvalued, while prices surged to the highest level in five years and started to decline in Q4 2012, dropping 0.9% quarter-on-quarter. At the same time, tight rules on mortgages and the fact that only 10% of all homes all bought in credit decreases the possibility of the bubble on the market.
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