Singapore First-Quarter Home Prices Jump on Strong Demand
- Prices rise 3.3%, accelerating from 0.4% in fourth quarter
- Gains have prompted government to raise property duties
Singapore’s housing market has remained buoyant even as cities from Hong Kong to London face price slumps.
Photographer: Lauryn Ishak/BloombergThis article is for subscribers only.
Singapore home prices rose for a 12th straight quarter, bucking a global housing slowdown and prompting authorities to raise property taxes on foreign buyers to cool the market.
Property values climbed 3.3% in the first three months of the year, Urban Redevelopment Authority figures showed Friday. That compares with a preliminary estimate of 3.2% and a 0.4% gain in the previous quarter.