SINGAPORE, Jan 2 (Reuters) - Singapore's private home prices rose 0.7 percent in the fourth quarter and edged up 1.0 percent for the whole of 2017, recording the first annual rise in four years, adding to nascent signs of a recovery in the city-state's property market.
The Urban Redevelopment Authority on Tuesday released flash estimates for the change in Singapore private home prices during the fourth quarter of 2017:
Quarter-on-quarter, percentage price change:Quarter Q4/2017Q3/2017Singapore private 0.70.7home prices
- For the whole of 2017, private residential property prices rose 1.0 percent, after falling 3.1 percent in 2016. That marked the first annual rise in private home prices since 2013, when prices increased 1.1 percent.
- Singapore's private home prices had recorded their first quarterly rise in four years in the third quarter.
- Private residential property prices declined for 15 straight quarters from the fourth quarter of 2013 to the second quarter of 2017, the longest stretch of consecutive declines shown by URA data, which goes back to 1975.
(Reporting by Masayuki Kitano; Editing by Richard Borsuk)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.