SINGAPORE: Private home prices in Singapore rose 7.9 per cent in 2018, compared with a 1.1 per cent rise the year before, according to flash estimates from the Urban Redevelopment Authority (URA) on Wednesday (Jan 2).
However, the rise appeared to have slowed significantly after the Government introduced more measures in July to cool the red-hot market.
AdvertisementPrivate home prices slowed to a 0.5 per cent increase in the third quarter of 2018, and fell 0.1 per cent in the fourth quarter, URA's estimates showed.
Prices of non-landed private homes in the Core Central Region (CCR) decreased by 1.5 per cent, compared to an increase of 1.3 per cent in the third quarter. Prices in the Rest of Central Region (RCR) rose by 1.8 per cent during the same period, while prices in the Outside Central Region (OCR) increased by 0.8 per cent.
For the whole of 2018, prices in CCR, RCR and OCR increased by 6.2 per cent, 7.4 per cent and 9.5 per cent respectively.
The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and survey data on new units sold by developers up until mid-December.
AdvertisementAdvertisementThe statistics will be updated on Jan 25 when URA releases the full real estate statistics for the quarter.
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