SINGAPORE: Private home prices in Singapore continued to rise in the second quarter of 2018 with a 3.4 per cent increase, according to flash estimates released on Monday (Jul 2) by the Urban Redevelopment Authority (URA).

But the increase was less than the 3.9 per cent rise in the previous quarter.

Overall, the private residential property index increased 4.9 points from 144.1 points in the 1st quarter to 149.0 points in the 2nd quarter this year.

Prices of non-landed private residential properties increased by 1.4 per cent in the Core Central Region (CCR), compared to the 5.5 per cent increase in the previous quarter. 

Prices in the Rest of Central Region (RCR) increased by 5.7 per cent, after registering an increase of 1.2 per cent in the previous quarter. 

Prices in Outside Central Region (OCR) increased by 2.9 per cent, after registering a 5.6 per cent increase in the previous quarter.

The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and data on units sold by developers up until mid-June. The statistics will be updated on Jul 27 when URA releases its full set of real estate statistics for the second quarter.

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