Singapore private home prices extend climb in second quarter, URA preliminary data show

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Singapore’s private residential property index climbed 3.4 percent on-quarter in the second quarter, according to the flash estimate from the Urban Redevelopment Authority (URA) on Monday.

That was slower than the first-quarter’s 3.9 percent on-quarter increase, the government data showed.

In the Core Central Region (CCR), non-landed private home prices rose 1.4 percent on-quarter in the second quarter, slower than the 5.5 percent rise in the first quarter, URA said. The Rest of Central Region (RCR) saw prices rise 5.7 percent, faster than the 1.2 percent rise in the first quarter, it said.

Outside Central Region (OCR) prices rose 2.9 percent in the second quarter, slower than the 5.6 percent increase in the first quarter, it said.

URA noted that the flash estimates are based on data up through mid-June, with past data showing that differences between the flash estimates and final readings were sometimes significant.

Separately, the Housing & Development Board, or HDB, released preliminary data on Monday showing that the resale price index for public housing flats rose 0.1 percent on-quarter in the second quarter. That was the first rise in at least four quarters.

HDB also said that as the resale market continues to stabilize, it will reduce the supply of build-to-order flats this year to around 16,000 flats, from 17,000.

In the first half of the year, it offered 11,373 flats, including 7,634 BTO flats and 3,739 balance flats, it said. In August, it plans to offer 4,300 BTO flats in Punggol and Yishun, it said.

This article was originally published on Monday 2 July 2018 at 9:38 A.M. SGT; it has since been updated with HDB resale price data. 

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