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Singapore Q3 private home prices rise 0.5 pct q/q
October 1, 2012 / 2:26 AM / in 5 years

Singapore Q3 private home prices rise 0.5 pct q/q

SINGAPORE, Oct 1 (Reuters) - Singapore's Urban Redevelopment
Authority (URA) released preliminary private home price data for
the third quarter of 2012 on Monday:

    Quarter-on-quarter, percentage price change:
 Quarter     Q3/2012   Q2/2012  Q1/2012  Q4/2011  Q3/2011
 
 Singapore      +0.5     +0.4    -0.1     +0.2     +1.3  
 
 private
 home prices
    
    Context:
    - Prices of non-landed private residential properties rose
0.2 percent in the core central region. Prices in the rest of
the central region rose 0.7 percent, while home prices 
outside the central region rose 1.0 percent, the URA said.
    - The Housing Development Board (HDB) said separately that
resale prices of government-built HDB apartments rose 2.0
percent in the third quarter from the previous three-month
period.
    - The URA flash estimates are based on caveats lodged during
the first 10 weeks of the quarter supplemented by information on
the number of new units sold by developers. URA will release
detailed data towards the end of the month.
    - Singapore private home sales dropped 27 percent in August
from July to the lowest level in two months, according to data
from the URA. The drop was partly due to the Chinese Hungry
Ghost Month which typically sees fewer buyers. 
    - Singapore home prices have held up despite government
efforts to cool the property market. The government recently
announced measures to ensure developers build apartments of
different sizes rather than just tiny "shoebox" units,
addressing complaints about the shrinking size of accommodation
in the city-state. 

 (Reporting by Kevin Lim)

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