Private home prices inch higher by 0.6%

Still a 'significant moderation' from 4Q's 1.8%.

The Urban Redevelopment Authority (URA) released today the real estate statistics for 1st Quarter 2013. 

Prices of private residential properties increased by 0.6% in 1st Quarter 2013, reflecting a significant moderation in the 1.8% price growth recorded in 4th Quarter 2012.

The moderation in price growth of non-landed properties was seen across all three market segments. It was most pronounced in the Rest of Central Region (RCR), where the rate of increase fell to 0.2%, compared to 0.9% in 4th Quarter 2012. Similarly, price growth in the Outside Central Region (OCR)  slipped to 1.4% from the 3.8% increase in the previous quarter.

Prices in the Core Central Region (CCR) 1increased by 0.6%, compared to 0.7% previously.

Rentals of private residential properties increased 0.8% in 1st Quarter 2013, which was marginally higher than the 0.7% increase in 4th Quarter 2012.