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

 

Singapore private home prices rose consecutively for two quarters – 1.5 percent in Q2 and 1.3 percent in Q3. Gains were fueled by growth in the high-end segments and landed properties.

Prices of non-landed homes in the core central region edged up 2.3 percent in Q2 vs Q1 and 2 percent in Q3 vs Q2.

Prices of non-landed properties in the city fringe (RCR) rose 3.5 percent in Q2 and 1.3 percent in Q3, vs the previous quarter. Increase is attributed to new launches – Avenue South Residence and One Pearl Bank.

Prices of non-landed properties outside the central region tick up 0.4 percent in Q2 and 0.8 percent in Q3.

Landed properties jumped 1 percent in Q3.

Analysts expect property prices to exhibit moderate growth for the rest of 2019, as developers are expected to launch another 15 new projects next quarter. These new launches are likely to drive up the per-square-foot (psf).

Despite the continual price improvement, analysts believed that the risk of housing bubble is low. Slower rate of price gains in Q3, low sub-sale activities, safeguards such as Total Debt Servicing Ratio (TDSR), more reasonable land bids and a slowdown in collective sales are some of the reasons cited.

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