Source: Channel News Asia, 1 July 2019
Private home prices climbed to a 5-year high in 2nd quarter of 2019 and was 1.3% higher than 1st quarter. It was also the highest since the 1st quarter of 2014 according to Urban Redevelopment Authority (URA) figures.
Overall prices of non-landed private homes rose by 1.6% and were higher across all regions: increases of 3%, 1.5% and 0.5% for Rest of Central Region (RCR), Core Central Region (CCR) and Outside Central Region (OCR) respectively.
Experts noted the underlying demand for Singapore private properties is still very resilient as investors remains positive and are confident of the long-term prospects of the local residential market, as an international financial hub and safe haven for real estate investment.
Demand was further boosted up by buyers looking for replacement homes after selling their properties to real estate developers through the en bloc process.
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