Private Houses up by 5.1%


PRIVATE home prices continued their climb in the first quarter, surging 5.1 per cent, from 7.4 per cent in the previous quarter, according to flash estimates released by the Urban Redevelopment Authority on Thursday.

In tendem with this, Housing Board’s resale flat prices also rose 2.7 per cent, from 3.9 per cent in the previous quarter.

The URA said prices of non-landed private homes rose by 4.5 per cent in the Core Central Region, 7.2 per cent in the Rest of Central Region and 3.9 per cent in the Outside Central Region areas in the quarter.

In the fourth quarter of last year, prices of non-landed private residential properties climbed by 7.3 per cent in the Core Central Region, 9.5 per cent in the Rest of Central Region and 6.3 per cent in the Outside Central Region areas.

The URA flash estimates are compiled based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, supplemented by information on the number of new units sold.

The statistics will be updated four weeks later.

-Joyce Teo, ST

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