Private residential property prices rise 0.8% on-quarter in Q2

Private residential property prices rose 0.8 per cent on-quarter in the second quarter of 2013.

This is according to the flash estimate of the price index for private residential property for the second quarter of 2013 released by the Urban Redevelopment Authority (URA).

The private residential property index rose 1.7 points from 213.2 points in 1st quarter 2013 to 214.9 points in 2nd quarter 2013.

URA said prices of non-landed private residential properties in Core Central Region declined by 0.2 per cent in 2nd quarter 2013. In the previous quarter, it increased by 0.6 per cent.

Prices in Rest of Central Region saw the same 0.2 per cent rate of increase as the previous quarter.

For Outside Central Region, prices increased by three per cent in 2nd quarter 2013. It was 1.4 per cent in the previous quarter.

URA will release the full real estate figures for 2nd quarter 2013 in four weeks’ time.

Source : Channel NewsAsia – 1 July 2013

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