Private home prices rose 0.5% month-on-month in the second quarter of this year, slightly slowing down from the previous quarter

The second quarter private home estimate data released by the Urban Reconstruction Bureau (URA) on Tuesday (July 1) showed that while the price increase slowed, the sales volume of private homes in the second quarter fell by about 40% month-on-month due to the decrease in the number of units for sale in the market.

The prices and sales momentum of private homes in my country continued to slow down. The overall private home prices rose by 0.5% month-on-month in the second quarter of this year, lower than the 0.8% increase in the first quarter.

As for land-based private homes, prices rose 0.7% in the second quarter, while the previous quarter rose 0.4%.

From the perspective of each region, the price of non-land private homes in the core central district (CCR) rose by 2.3%, far higher than the 0.8% in the previous quarter. Prices of non-land private homes in other central districts (RCRs) fell 1.1%, while rising 1.7% in the previous quarter. Prices of non-local private homes outside the Central District (OCR) rose 0.9%, slightly higher than the 0.3% in the first quarter.

The prices of non-land private homes rose by 0.5% in the second quarter, down from the 1.0% increase in the previous quarter.