SINGAPORE: On Monday , the Urban Redevelopment Authority said that the price of private residential property rose again in the third quarter of 2023, while the Housing and Development Board said that resale prices also went up in the same period.
URA noted that “The increase was significantly lower than the average quarterly increase of 2.1 per cent in 2022. In addition, sale transaction volume fell by about 15 per cent on a quarter-on-quarter basis and by about 26 per cent on a year-on-year basis in 3rd Quarter 2023Meanwhile, HDB resale prices had increased by 1.5 per cent during the year’s second quarter.
In an Oct 2 report, Bloomberg said that increased private home prices are “a sign of the persistence of a property boom that has gripped” Singapore in the past several years. “The statistics will be updated on 27 October 2023 when URA releases its full set of real estate statistics for 3rd Quarter 2023. Past data have shown that the difference between the quarterly prices changes indicated by the flash estimate and the actual changes could be significant when the change is small. The public is advised to interpret the flash estimates with caution,” URA noted, however.
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