Private property prices in Singapore rise 0.6 per cent in the first quarter of the year

Prices of private homes in Singapore edged up 0.6 per cent in the first quarter of the year, moderating significantly from the 1.8 per cent seen in the fourth quarter of last year, data from the Urban Redevelopment Authority released Friday morning showed.

Flash data released earlier had shown a 0.5 per cent increase.

The suburban market which has seen prices rise sharply has cooled with a 1.4 per cent gain in the first quarter compared with a 3.8 per cent jump in the previous quarter.

Rentals of private home rose 0.8 per cent in the first quarter.

The supply of private homes being built has hit 88,623, higher than the 86,475 units in the last quarter of 2012.