Singapore's Q2 private home prices up 0.9% from previous quarter

SINGAPORE: Singapore's private home prices rose 0.9 per cent in the second quarter from the previous three months, flash estimates released by the Urban Redevelopment Authority (URA) showed on Thursday (Jul 1).

The increase slowed from the two-and-a-half-year high pace in the first quarter, when prices rose by 3.3 per cent.

Prices of non-landed private homes in the Outside Central Region (OCR) increased by the most, by 1.8 per cent, compared with the 1.1 per cent increase in the previous quarter.

Prices in the Core Central Region (CCR) rose by 0.6 per cent, compared with the 0.5 per cent increase in the first quarter. 

In the Rest of Central Region (RCR), prices were up 0.3 per cent, down from the 6.1 per cent increase in the previous quarter. 

READ: HDB resale prices up 2.8% in second quarter: Flash estimates

The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and data on units sold by developers up until mid-June. The data will be updated on Jul 23 by URA.