Singapore Q2 private home prices +0.4pct from Q1

Following are advance private home price estimates from the Urban Redevelopment Authority

(URA) for the first second of 2012: 

          Quarter-on-quarter, percentage price change: 

   Quarter     Q2/2012  Q1/2012  Q4/2011  Q3/2011  Q2/2011 

   Singapore     +0.4    -0.1    +0.2     +1.3      +2.0   

Context:

– Private home prices in Singapore recovered following a 0.1 percent quarter-on-quarter drop in the first three months of this year. Most analysts had expected to index to show a slight decline due to government measures to cool the sector.

– Prices of non-landed private residential properties rose

0.6 percent quarter-on-quarter in the core central region, reversing the 0.6 percent fall in the first quarter.

– Prices of non-landed property outside the central region increased at a slower pace of 0.4 percent in the second quarter, following a 1.1 percent rise in the first three months of 2012.

– Singapore last introduced measures to cool the housing market in December. The new rules included a requirement that foreigners who are not permanent residents pay an additional stamp duty equal to 10 percent of the property value.

http://in.reuters.com/article/2012/07/02/singapore-economy-property-idINS7E7L402420120702

 

Category: Singapore