{"id":92943,"date":"2018-07-02T12:56:39","date_gmt":"2018-07-02T05:56:39","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-in-singapore-up-7-4-in-first-half-of-2018-ura\/"},"modified":"2018-07-02T13:04:03","modified_gmt":"2018-07-02T06:04:03","slug":"private-home-prices-in-singapore-up-7-4-in-first-half-of-2018-ura","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-in-singapore-up-7-4-in-first-half-of-2018-ura\/","title":{"rendered":"Private home prices in Singapore up 7.4% in first half of 2018: URA"},"content":{"rendered":"


\n\u00a0
\nPrivate home prices in Singapore continued to grow in Q2 2018 with a 3.4 percent increase from the previous quarter, according to flash estimates of the Urban Redevelopment Authority\u2019s price index released on Monday (2 July).
\n\u201cThis is the fourth consecutive quarter of increase in the URA Property Price Index since Q3 2017 and following the 3.9 percent increase in Q1 2018,\u201d said Eugene Lim, key executive officer at ERA Realty.
\nHe also noted that private home prices increased by an estimated 7.4 percent in the first half of 2018.
\nURA data shows that all segments of the market registered positive price changes in Q2, with the Core Central Region witnessing a 1.4 percent increase, the Rest of Central Region (5.7 percent) and the Outside Central Region (2.9 percent).
\nPropertyGuru\u2019s chief business officer Lewis Ng said this is line with the latest PropertyGuru Property Index, which saw asking prices rise for the fourth straight quarter, by 3.4 percent to 102.6.
\n\u201cThe property market continues to be driven by high demand from buyers, robust en bloc activity and confident land bids by developers,\u201d he said.
\nWith market sentiment still very positive, ERA\u2019s Lim believes the continued increase in prices \u201csignals that the market is on an upswing trend\u201d.
\nHe said more buyers \u201care buying now for fear of further price increases going forward\u201d, while sellers have taken this opportunity to revise their asking prices upwards.
\nAverage prices at Park Place Residences at Paya Lebar Quarter, for instance, now stand at $2,022 psf, up 12 percent from $1,806 psf during last year\u2019s Phase 1 launch.
\nTwin Vew at West Coast Vale was launched at $1,399 psf, 19 percent higher than the $1,176 psf launch price at next door\u2019s Parc Riviera in 2016. Margaret Ville in Queenstown was also launched at $1,887 psf, up 16 percent from the nearby Queens Peak\u2019s launch price of $1,632 psf last year.
\nBuoyed by en bloc sellers in search of replacement homes and the relatively lower prices compared to new launches, the resale market was also very active during the second quarter, said Lim.
\nIn fact, there were 3,879 caveats lodged for resale and subsale transactions from April to 22 June. The figure is already higher than the 3,828 resale transactions in Q2 last year.
\nDespite this, the government maintained all the property cooling measures \u2013 except for the shorter holding period of three years for the Seller\u2019s Stamp Duty and the strict property financing rules.
\nCommitted to maintaining a sustainable housing market, the government has shown \u201cthat it will intervene if necessary to cool the market, and the possibility remains that it may do so in the future; should price increases be excessive and we see the onset of property speculation\u201d.
\nWhile uncertainty in the stock market, rising interest rates and the possibility of a trade war between the US and China may slow down the recovery of the property market, Lim still expects to see an overall price increase of 10 to 12 percent this year.
\nPropertyGuru\u2019s Ng also predicts further rises in property prices in 2018. But he cautioned that there are potential market risks, including rising interest rates and an elevated vacancy rate. \u201cAs such, they need to be careful not to overstretch their finances,\u201d he said.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Private home prices in Singapore up 7.4% in first half of 2018: URA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 Private home prices in Singapore continued to grow in Q2 2018 with a 3.4...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-92943","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-ob5","jetpack-related-posts":[{"id":95051,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-prices-rose-3-4-in-q2\/","url_meta":{"origin":92943,"position":0},"title":"Singapore private home prices rose 3.4% in Q2","date":"July 30, 2018","format":false,"excerpt":"\r The price growth in Q2 was slightly slower than the 3.9 percent increase in Q1.\u00a0 Singapore private home prices rose 3.4 percent quarter-on-quarter in Q2 2018 compared to a slightly faster growth of 3.9 percent in Q1, according to more complete data released by the Urban Redevelopment Authority (URA)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120572,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-continue-to-increase-in-q2-2021\/","url_meta":{"origin":92943,"position":1},"title":"Private home prices, HDB resale prices continue to increase in Q2 2021","date":"July 1, 2021","format":false,"excerpt":"\r Private home prices, HDB resale prices continue to increase in Q2 2021Private home prices and HDB resale prices continue to increase in the second quarter of 2021, showed the URA and HDB flash estimates.\u00a0 Singapore saw private home prices and HDB resale prices continue to increase in the second\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/HDB-MRT-station.jpg?fit=819%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":117942,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-prices-up-0-3-in-q2-2020\/","url_meta":{"origin":92943,"position":2},"title":"Singapore private home prices up 0.3% in Q2 2020","date":"July 24, 2020","format":false,"excerpt":"\r Private home prices in Singapore rebounded 0.3% quarter-on-quarter in the second quarter of 2020.\u00a0 Private home prices in Singapore rebounded 0.3% quarter-on-quarter in the second quarter of 2020, following a 1% decline in the previous quarter, revealed the latest report from the Urban Redevelopment Authority (URA). The report noted\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117472,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-prices-drop-1-1-in-q2\/","url_meta":{"origin":92943,"position":3},"title":"Singapore private home prices drop 1.1% in Q2","date":"July 1, 2020","format":false,"excerpt":"\r Flash estimate\u00a0from the Urban Redevelopment Authority (URA) showed that the private residential property index fell 1.1% in Q2 2020.\u00a0 The COVID-19 pandemic has continued to affect the Singapore housing market as private home prices fell for a second consecutive quarter. Flash estimate from the Urban Redevelopment Authority (URA) showed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28301,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-down-1-5-in-q3\/","url_meta":{"origin":92943,"position":4},"title":"Private home prices down 1.5% in Q3","date":"October 3, 2016","format":false,"excerpt":"\r Prices of private housing units in Singapore are still falling.\u00a0 The private residential property price index fell 2.1 points to 137.9 in the third quarter of 2016 from 140.0 points in the previous quarter, according to the Urban Redevelopment Authority\u2019s (URA) flash estimates released on Monday (3 October). This\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98876,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-rise-at-slower-pace\/","url_meta":{"origin":92943,"position":5},"title":"Private home prices rise at slower pace","date":"October 1, 2018","format":false,"excerpt":"\r Price growth in the private residential market slowed to 0.5% compared to the 3.4% increase in Q2 2018. 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