Singapore, 01 Apr 2021 Private home prices in Singapore rose for a fourth straight quarter, jumping 2.9 per cent in the first three months of this year, raising bets on a fresh round of cooling measures.
This is the steepest quarterly increase since the second quarter of 2018, when private residential prices rose by 3.4 per cent before property curbs hit in July that year.
It follows an increase of 2.1 per cent in the fourth quarter last year and 0.8 per cent in the third quarter, according to the Urban Redevelopment Authority's (URA) flash estimate released on Thursday morning (April 1).
The price increase in the first quarter was driven mainly by pricier non-landed homes in the city fringe, or rest of central region (RCR), which jumped 6.1 per cent quarter on quarter, compared with 4.4 per cent in the previous three months, OrangeTee & Tie's senior vice-president of research and analytics Christine Sun said.