News
RESIDENTIAL PROPERTY | Staff Reporter, Singapore
view(s)

Private home prices up 3.1% in Q1

The growth rate was the quickest since 2010.

Home prices rose 3.1% QoQ in Q1 to post its quickest growth rate since the second quarter of 2010, according to data from the Urban Redevelopment Authority. 

Private residential property prices were at a measly 0.8% in Q4 but values surged as the local property market continues to recover with developers demanding more aggressive asking prices. Homebuyers are similarly hopping in on the latest housing frenzy after selling their homes with the hopes of scoring a bargain.

Also read: Why foreign home buyers prefer Singapore over prime cities' property markets

The residential sector also accounted for a lion’s share or over 80% in property investment sales in Q1, according to a separate report from JLL. With the exception of commercial sites yielding more than 20% of gross floor area, developers were able to acquire 26 residential plots totalling $7.27 billion in Q1 alone. 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.