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Home prices rose overall last year but slower economic growth and tough cooling measures meant they struggled to match 2018's more buoyant pace.
Prices advanced by 2.5 per cent last year compared with a 7.9 per cent jump in 2018, data showed yesterday.
The steam certainly went out of the market late last year, with prices edging up just 0.3 per cent from the third to the fourth quarter following a far more robust increase of 1.3 per cent from the second quarter to the third.
Analysts say the slower pace of price rises is in tandem with the year-end holiday season and shows there is no excessive exuberance in the residential market.
Meanwhile, public housing owners finally have something to cheer about. The prices of Housing Board resale flats rose by 0.4 per cent in the final three months of 2019 compared with the third quarter, in what was the largest quarter-on-quarter increase last year, the latest public housing figures show.
Based on flash estimates, there was no change in resale flat prices for the whole of last year, according to HDB, which released the data yesterday. This means prices were stable compared with the full-year price drop of 0.9 per cent in 2018 over 2017.
Yesterday's Urban Redevelopment Authority flash data also showed that overall private home price gains were driven by landed homes.
Values in this segment rose 4 per cent from the third to the fourth quarter, after gaining 1 per cent in the previous quarter.
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- Slowing pace of Singapore private residential price growth indicates 'stabilised' environment - Colliers
- Kim Heng Offshore & Marine to incur impairment loss of $6.5 mil in proposed sale of Penjuru Road property
Asian property news round up
- Chinese developer offers discounts for apartments
- Mainland Developer Dumps Chairman Amid Police Investigation
- Mitsubishi Estate Said Doubling Overseas Property Fund to $9B
- Real estate retains second position in FDI attraction
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Previous news selection
Private home prices expected to rise this year after 2.5% gain in 2019
About Agent.sg Daily Property News Selection
Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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