Private Home Price Up But At Slower Rate

Source : The Business Times, April 1, 2008

URBAN Redevelopment Authority's latest flash estimate shows that the price index for private homes in Singapore rose 4.2 per cent in Q1 2008 over the preceding quarter. This was lower than the 6.8 per cent quarter-on-quarter rise registered in Q4 last year.

URA also released today the flash estimates of the price changes in the three geographical regions for Q1 2008. Prices of non-landed private homes rose 4.4 per cent in Core Central Region (comprising the prime districts 9, 10 and 11 as well as the Downtown Core and Sentosa areas) , 3.9 per cent in Rest of Central Region and 4.8 per cent in Outside Central Region during the quarter over the preceding three months.

These increases compare with quarter-on-quarter gains of 7.5 per cent in Core Central Region, 7.7 per cent in Rest of Central Region and 7.0 per cent in Outside Central Region in Q4 last year.

In the public housing market, HDB's flash estimate showed the resale flat price index rose 3.4 per cent in Q1 2008 over the preceding quarter. This was lower than the 5.7 per cent increase in Q4 2007.