INGAPORE: Private home prices in Singapore rose 3.3 per cent in the first quarter of the year, topping flash estimates released earlier in the month.
The private residential property price index increased to 162.2 points in the first quarter of 2021, up from 157 points in the last quarter of 2020, according to real estate statistics released by the Urban Redevelopment Authority (URA) on Friday (Apr 23).
The figure marks the fourth straight quarter of price increases, and extends the 2.1 per cent rise in the quarter before.
It is also the sharpest quarterly increase since the second quarter of 2018, when prices rose by 3.4 per cent, triggering a round of cooling measures after.
LANDED PROPERTY BOOST
The higher home prices were boosted by the landed property segment - prices for such homes rose 6.7 per cent in the first quarter, reversing a 1.6 per cent decline in the previous quarter.
In the non-landed property segment, prices rose 2.5 per cent, down slightly from a 3 per cent rise in the quarter before, said URA.
Specifically, in the Core Central Region, prices rose 0.5 per cent, slowing from a 3.2 per cent increase in the quarter before.
In the Rest of Central Region, prices rose 6.1 per cent, extending the previous quarter's increase of 4.4 per cent.
Prices in the Outside Central Region rose by 1.1 per cent, slowing from a 1.8 per cent increase the previous quarter.