Singapore private home prices rise 1.3% in Q3, topping 0.9% flash estimate

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Source: https://www.straitstimes.com/business/singapore-private-home-prices-rise-13-in-q3-for-second-quarterly-gain-ura-data

 

Private home prices rose 1.3 percent in third quarter, exceeding the 0.9 percent increase estimated by Urban Redevelopment Authority (URA). Price increase was attributed to high price of new launches and demand for properties in the city fringe and prime districts.

3,281 new private homes were sold in Q3. This is the highest record of private homes sold in a single quarter since Q2 2013.

Analysts noted that in Q3, there were 80 percent more foreign buyers and 50 percent more Singaporeans buying new launches. Private homes rental also increased by 0.1 per cent in Q3, following a 1.3 percent rise in Q2. Vacancy rate reduce by 0.3 percent to 6.1 percent.

It is generally believe that current regional economic uncertainty and the stability of our currency are two key reasons why Singapore is becoming more attractive to foreign investors.

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