Singapore's Q2 private property prices up 7.9% from Q1: URA

Singapore's Q2 private property prices up 7.9% from Q1: URA
Posted: 02 July 2007 1248 hrs


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SINGAPORE : Private property in Singapore posted further gains in the second quarter of this year, said the Urban Redevelopment Authority (URA) on Monday.

Based on URA's estimated price index of private residential property, prices rose from 136.5 points in the 1st Quarter 2007 to 147.3 points in the 2nd Quarter 2007.

This represented an increase of 7.9 percent, compared with the 4.8 percent rise in the previous quarter.

URA also released the flash estimates of the price changes in the three geographical regions for the second quarter.

Prices of non-landed private residential properties increased by 7.6 percent in Core Central Region, 7.9 percent in Rest of Central Region and 6.5 percent in Outside Central Region in the quarter.

The URA said the rise in private housing prices in recent quarters was in line with greater economic growth and rising confidence.

Private housing prices are now increasing at a faster pace because of good economic prospects going forward and the increasing attractiveness of Singapore as a global city. - CNA/ch