Singapore CNA reports that prices of private homes in Singapore rose at a quicker pace of 3.5 percent in the second quarter of this year, five times the 0.7 percent increase in the previous quarter.
The private residential property price index increased to 180.9 in the second quarter, up from 174.8 in the preceding three months, according to real estate statistics released by the Urban Redevelopment Authority (URA)
Prices of non-landed properties increased by 3.6 percent in the second quarter, compared to the 0.3 percent decrease in the first quarter.
Such properties in the core central region rose by 1.9 percent, while those in the rest of the central region went up by 6.4 per cent. Prices of non-landed homes outside the central region increased by 2.1 percent in the second quarter.
Landed home prices increased by 2.9 percent in the second quarter of this year, compared to the 4.2 percent increase in the first three months of 2022.
Resale transactions accounted for about 62.2 percent of all sale transactions in the second quarter. There were 4,236 resale transactions in the last quarter, compared to 3,377 units in the preceding three months.
Number of non-landed homes excluding executive condominiums (ECs) bought by foreigners and non-permanent residents rose from 144 units in the first quarter to 292 units in the second quarter.
