Singapore private home prices up 1 per cent in the second quarter: URA

Condominiums in the Ardmore Park area. Private home prices in Singapore rose 1 per cent in the second quarter, final figures from the Urban  Redevelopment Authority showed on Friday. -- ST PHOTO: ALPHONSUS CHERN
Condominiums in the Ardmore Park area. Private home prices in Singapore rose 1 per cent in the second quarter, final figures from the Urban  Redevelopment Authority showed on Friday. -- ST PHOTO: ALPHONSUS CHERN

Private home prices in Singapore rose 1 per cent in the second quarter, final figures from the Urban Redevelopment Authority showed on Friday.

Flash estimates had earlier shown a 0.8 per cent rise which means that prices edged up further towards the end of June.

The first quarter had seen a rise of 0.6 per cent.

The increase was driven by the interest in suburban homes where prices shot up 3.8 per cent compared with 1.4 per cent in the first quarter.

In the core central region, prices saw a 0.2 per cent decline compared with a 0.6 per cent increase  previously.

In the rest of central region, prices were 0.2 per cent higher, the same rate of increase as in the first quarter.

The introduction of tougher loan-to-value limits on second and subsequent housing loans and longer-tenure loans as well as the total debt servicing ratio framework came into effect only on June 29.