Private home prices in Singapore rose at a slower pace of 2 per cent in the second quarter, according to statistics from the Urban Redevelopment Authority (URA).
This was in line with the flash estimates which showed a 1.9 per cent increase as announced earlier.
The property price index stood at 203 points in the second quarter.
In the previous quarter, the price index grew 2.2 per cent to 199.1 points.
URA said the rate of price increase has moderated for seven straight quarters, since the fourth quarter of 2009.
For the second quarter of this year, non-landed residential properties in the prime city area, or core central region, increased by 1.6 per cent.
The city fringe areas, or rest of central region, posted a 1.1 per cent increase.
Suburban areas, or outside central region, also showed an increase of 1.7 per cent.
URA said that the supply of residential units in the pipeline continues to build up.
There was a total of 71,111 uncompleted private homes at the end of the second quarter.
This was higher compared to the 68,887 units in the first quarter.
Source : Channel NewsAsia – 22 Jul 2011