PROPERTY analysts expect Singapore’s private home prices to continue its growth trajectory for the rest of the year, after it rose for the sixth straight quarter in Q3.
Based on the Urban Redevelopment Authority’s (URA) flash estimates, the overall price index for private homes grew 0.9 per cent over the preceding quarter.
The gain is similar to that in Q2 2021, which saw a 0.8 per cent rise quarter on quarter.
According to Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, the “modest” growth could be attributed to the viewing restrictions under Phase 2 (Heightened Alert), which took place from July 22 to Aug 18.
“Moreover, resale and mass-market homes formed a bigger proportion of the total sales last quarter. These homes are typically sold at lower prices when compared to other market segments, thus lowering the overall average price for the entire market,” she added.
source: The Business Times
