Singapore Q2 private home prices +1.0 pct q/q

Fri Jul 26, 2013 1:43am BST

SINGAPORE, July 26 (Reuters) - Singapore's Urban
Redevelopment Authority released detailed estimates for the
change in private home prices in the second quarter of 2013:
    
    Quarter-on-quarter, percentage price change:
 Quarter            Q2/2013   Q1/2013   Q4/2012  Q3/2012  Q2/2012
 Singapore private    +1.0      +0.6     +1.8     +0.6     +0.4
 home prices                                              
 
    CONTEXT:
    - The increase in Q2 prices was higher than the flash
estimate of a 0.8 percent rise. 
    - Prices of non-landed private residential properties in the
core central region fell 0.2 percent in the second quarter from
the first, compared with a gain of 0.6 percent in January-March.
    - But prices outside the central region rose by 3.8 percent
quarter-on-quarter, faster than the 1.4 percent increase in the
first quarter.
    - Private property rents rose 0.3 percent in the second
quarter from the first three months of the year, below the first
quarter's 0.8 percent gain.
    - The Housing and Development Board (HDB), which houses more
than 80 percent of Singaporeans, said separately that resale
prices of HDB apartments rose 0.5 percent in the second quarter
from the first three months of 2013.
    - Singapore has been trying to cool its housing market over
the past three years.
    - In an interview with Reuters this month, Deputy Prime
Minister and Finance Minister Tharman Shanmugaratnam said the
property market has shown signs of stabilising but the
government would like to see some softening of prices.
 
    - Singapore's central bank last month introduced rules to
ensure that a property buyer's monthly payments do not exceed 60
percent of income, in a move aimed at cooling the market and
ensuring investors are not caught out by a rise in interest
rates. 

 (Reporting by Kevin Lim; Editing by Jacqueline Wong)