Flash estimate: growth in Singapore property
Flash estimate: growth in Singapore property.
Prices for private residential property in Singapore increased from Q3 to Q4 in 2012.
In the third quarter of 2012 the private residential property index in Singapore was at 208.2 points. In the fourth quarter of 2012, however, the index rose to 211.9 points, an increase of 1.8%.
With an increase of 0.6% in Q3, the Q4 index shows the Singapore private residential property sector is continuing to grow, in spite of government cooling measures put in to place in order to prevent a property bubble.
In fact, prices in 2012 grew overall in Singapore by about 2.8%, although this number is lower than the growth shown in 2011 at 5.9%.
The Urban Redevelopment Authority (URA) of Singapore compiles flash estimates of property prices based on transaction prices supplemented by information from developers on the number of new units sold. The URA warns the public to interpret its flash estimates with caution. The statistics for Singapore real estate will be released in four weeks time.