Singapore private home prices up 3.4% in Q2: URA flash estimates

PRIVATE home prices rose 3.4 per cent in the second quarter, keeping pace with the 3.9 per cent increase in the first quarter, flash estimates from the Urban Redevelopment Authority (URA) shows.

The quarter-on-quarter increase in the second quarter was led by a 3.8 per cent rise in the prices of landed homes, followed by a 3.3 per cent increase for non-landed homes.

In the non-landed segment, prices in the city-fringe or Rest of Central Region (RCR) jumped the most - by 5.7 per cent during the second quarter, followed by a 2.9 per cent rise in the suburban or Outside Central Region (OCR), and a 1.4 per cent increase in the Core Central Region (CCR).

In the preceding quarter (Q1), non-landed prices in the CCR, RCR and OCR had risen by 5.5 per cent, 1.2 per cent and 5.6 per cent, respectively.

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 till mid-June.

The data will be updated on July 27 when the URA releases its full set of real estate statistics for the second quarter.