Singapore, 06 Apr 2021 In 2021, Singapore Private property prices have posted a full year of quarterly increases after rising 2.9 per cent in the first quarter of 2021 from the fourth quarter of last year — the steepest jump since the second quarter of 2018. Prices had gained 2.1 per cent in the fourth quarter.
This is due to costlier city-fringe homes and a strong market for landed homes. Prices of private homes were driven up largely in the city-fringe areas, where they rose 6.1 per cent, quarter on quarter.
Year on year, private home prices have risen by 6.2 per cent, with most of the increase – over 5 per cent – taking place over the last two quarters, analysts said.
Last quarter’s HDB resale prices are also just 5 per cent lower than their peak price recorded in the second quarter of 2013, said Christine Sun, OrangeTee & Tie’s senior vice-president of research and analytics. At the current pace of price growth, a new peak may be formed by the second half of this year, she said.