Singapore enjoys boom

SINGAPORE’S housing prices reached a fresh record high in the third quarter as the city state’s economy booms after last year’s recession.

Private residential property prices rose 3.1% in the July-to-September period, down from 5.3% growth in the second quarter, the Urban Redevelopment Authority said yesterday.

Property prices are at their highest level since the government began the index in 1975.

Prices of public housing apartments, where about 80% of Singaporeans live, rose 4% last quarter.

Singapore’s low crime rate, good schools and low personal and corporate taxes have helped the island rank near the top of expatriate quality-of-life surveys and helped attract investors.