Flash estimates from the URA show that private residential property prices climbed by 0.9% q-o-q in 3Q2019. This is the second straight quarter that prices have increased, following the 1.5% increase recorded in 2Q2019.
This means that private home prices have cumulatively increased by 1.7% since the start of the year. Private home prices are now 1.7% above the most recent peak in 3Q2018, and just 1.6% below the record high in 3Q2013.
The increase in sales and prices suggests that more buyers who were previously sitting on the sidelines, are now coming back to the market, says Lee Nai Jia, head of research for Knight Frank Singapore.
– October 1, 2019