Singapore’s private home prices recently hit a five-year high, according to URA estimates on 1 July 2019.
But is it just a quirk, or will prices keep rising? Let’s find out.
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What’s Happening In The Property Market?
In a separate article, we pointed out that private property prices were rising, even as resale flat prices were falling.
URA’s private residential property price index is at 150.5 points for Q2 2019, the highest level in five years. It’s a 1.3 per cent increase from Q1, during which we saw a 0.7 per cent dip in prices.
We believe the main causes are:
More flats hitting their MOP, and a surge of upgraders (hence the falling resale flat prices, even as private property prices climb) Confidence in the