SINGAPORE, July 26 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)
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