Singapore's private home prices jumped 3.4%

But increase has been at a slower pace.

According to Knight Frank, on a yearly basis, private home prices continued to show an upward trajectory despite the measures. 

Overall private home prices increased by 3.4 per cent y-o-y in 1Q 2013, the highest y-o-y increase since 2Q 2012. Similarly, properties located in CCR posted a 1.8 per cent y-o-y price increase in 1Q 2013, the highest y-o-y rise since 2Q 2012, whilst properties in RCR registered 2.2 per cent y-o-y price increase and properties in OCR at 7.2 per cent y-o-y price increase, the highest increases since 1Q 2012.

However, Knight Frank noted that the increase is at a slower pace.  URA’s All Residential Property Price Index flash estimate showed that private home prices increased marginally in 1Q 2013 at 0.5 per cent quarter-on-quarter (q-o-q), less than one-third the increase in 4Q 2012 at 1.8 per cent q-o-q.

Here's more from knight Frank:

Q-o-q price increases for properties in Core Central Region (CCR) and Outside Central Region (OCR) in 1Q 2013 have slowed down by half to 0.4 per cent and 1.7 per cent respectively. The q-o-q price increase for the CCR and OCR in 4Q 2012 was 0.7 per cent and 3.8 per cent, respectively.

Prices properties in Rest of Central Region (RCR) remained unchanged at zero per cent increase in 1Q 2013.

The slower pace of price increases in 1Q 2013 suggested that the seventh round of cooling measures and new property tax policies have had the intended impact of cooling price escalation of private homes.