Private home prices increased slightly by 0.5 per cent in the third quarter of 2023 after it fell in the previous quarter.
SINGAPORE: Private home prices in Singapore increased marginally in the third quarter of 2023, with analysts forecasting that moderate growth is likely for the rest of the year.
The increase was due to higher prices in the Rest of Central Region and Outside Central Region , where it increased by 2.3 per cent and 5.1 per cent respectively. "This resurgence was primarily driven by the launch of several noteworthy projects throughout the third quarter, which injected a much-needed vibrancy in the new sales segment," he said.
Edmund Tie's head of research and consulting Mr Lam Chern Woon also noted the impact of the added ABSD for foreigners, and added that theSingapore announces new property cooling measures, additional buyer's stamp duty doubled to 60% for foreignersPrices of landed properties fell by 4.9 per cent in the third quarter, a reversal from the 1.1 per cent increase in the previous quarter.
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