Singapore private home prices rise by faster 0.8% in Q3, rents dip 0.5%: URA

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SINGAPORE - Private home prices in Singapore rose 0.8 per cent in the third quarter from the previous three months, according to final data from the Urban Redevelopment Authority on Friday .

“Many long-term investors and wealthy buyers are on the prowl for properties as many are repositioning their wealth from riskier assets,” Ms Sun said. Ms Sun noted that: “Investor exuberance for real estate properties seemed to have spilt over from the primary market to the secondary market." Giving a breakdown by region, the URA said that prices of non-landed properties in the prime or core central region fell 3.8 per cent in Q3, compared with the 2.7 per cent drop in the previous quarter. Prices of non-landed properties in the city fringe or rest of central region jumped 2.5 per cent, compared with the 1.7 per cent fall in the previous quarter.

Unlike prices, rents of private residential properties continued to weaken in the third quarter. Rents dipped 0.5 per cent from the previous three months, easing from a drop of 1.2 per cent in the second quarter.

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