Private home prices rose 2.2% in Q1

Singapore’s private home prices moderated again in the first quarter of this year, growing 2.2 per cent compared with 2.7 per cent in the previous quarter.

This is the sixth straight quarter in which growth in private home prices has slowed down.

Final data released on Monday by the Urban Redevelopment Authority (URA) also showed that prices of non-landed residential properties rose 1.7 per cent in the first quarter.

This was slightly lower when compared with the 1.8 per cent increase in the previous quarter.

As for landed homes, URA said prices increased by 3.9 per cent, down from 5.5 per cent in the previous quarter.

Meanwhile, rentals of private residential properties in the first quarter has increased by 1.2 per cent.

Rentals for industrial properties rose 6.3 per cent, followed by office space rentals up by 5.4 per cent and shop rentals which edged up 0.8 per cent.

Source : Channel NewsAsia – 25 Apr 2011

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