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Singapore Sees Fastest Home Price Growth in 7 Quarters
1 Oct
Summary
- Private home prices rose 1.4% in the third quarter.
- This marks the fastest growth pace in seven quarters.
- Sales volume saw a slowdown during the same period.
Singapore's private residential property market has seen a significant acceleration in price growth. In the third quarter, an index tracking these prices increased by 1.4%, a notable jump from the 0.5% rise recorded in the second quarter. This represents the fastest pace of appreciation witnessed in seven quarters.
Interestingly, this robust price growth occurred concurrently with a slowdown in property sales. This divergence suggests that while fewer transactions may have taken place, the value of the remaining properties continued to climb significantly, underscoring the persistent strength of the city-state's property boom.
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