The private home prices in Singapore accelerated during the final quarter of the year 2021, with a considerable jump of 5% in comparison to the past three months, even after the recently implemented property cooling measures.
For the entire year, the prices of property surged to 10.6% and it is the highest annual growth reported after the year 2010 when prices climbed by 17.6%. Note that in the year 2020, prices improved only by 2.2%.
The estimates from Urban Redevelopment Authority (URA) reveal that the fourth quarter presented robust performance while extending gains for the 7th straight quarter. It happened after prices increased by 1.1% during the third quarter of the year 2021, 0.8% during the second quarter, and almost 3.3% during the first quarter.