Financial News: Singapore House Price Growth Accelerates In Q2

Singapore House Price Growth Accelerates In Q2

07/22/2022 - 01:48:00 (RTTNews)

(RTTNews) - Singapore house price inflation accelerated more than initially estimated in the second quarter, the Urban Redevelopment Authority said on Friday.

House prices grew 3.5 percent sequentially, faster than the 0.7 percent rise in the previous quarter. The growth rate for the second quarter was revised up from 3.2 percent.

The increase in prices of landed properties slowed to 2.9 percent from 4.2 percent. At the same time, non-landed property prices advanced 3.6 percent, reversing a 0.3 percent fall.

Data showed that developers launched 1,956 uncompleted private residential units for sale in the second quarter compared with the 613 units in the preceding period. They sold 2,397 units versus 1,825 units a quarter ago.

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