SINGAPORE: Singapore private home prices rose more than estimated in the second quarter (2Q25), just before new curbs were introduced, underscoring authorities’ anxiety about a rekindling of the property boom.
An index for prices of private residences gained 1% in the three months ended June from the previous quarter, according to data released last Friday by the Urban Redevelopment Authority.
That’s twice the pace of the initial estimate of 0.5%, marking the third consecutive quarter of increases.
Separately, private home rents climbed 0.8% from the previous quarter, when they rose 0.4%.
Rental prices had been moderating after surging to record highs in recent years.
Singapore authorities added new measures earlier this month on growing concerns about a trend of buyers flipping properties for a quick profit, which pushed up prices, further hitting affordability in one of the world’s most expensive residential markets.
Prices could accelerate further at a higher rate in the 3Q25, said Nicholas Mak, chief research officer at property portal Mogul.sg.
The curbs introduced so far have been seen largely as a “tap on the wrist,” he said. — Bloomberg
