S’pore private home prices up 0.2% in Q2

Source : Business Times - 25 Jul 2008

Urban Redevelopment Authority’s private home price index increased 0.2 per cent in second quarter 2008 over the preceding quarter, slower than the 3.7 per cent quarter-on-quarter increase posted in Q1 2008.

The official price index for offices increased 0.7 per cent quarter-on-quarter in Q2 2008 while shop and industrial property prices posted gains of 0.7 per cent and 4.1 per cent respectively.

URA also said that rentals of private residential, office, shop and industrial properties increased by 2.5 per cent, 6.3 per cent, 5.2 per cent and 2.3 per cent respectively in Q2 2008 over Q1 2008.

‘The rates of increase in the prices and rentals of private residential and office properties have moderated in Q2 2008 as compared to Q1 2008.

While the rate of increase in the prices of shop properties has also moderated in the Q2 2008, the rate of increase in the rentals of such properties has increased in the period as compared to Q1 2008.

For industrial properties, prices have increased at a faster pace in Q2 2008, while increase in rentals moderated in the period as compared to Q1 2008,’ URA said.