Zen Chee

SINGAPORE, Oct. 1 (Xinhua) — Prices for private homes in Singapore rose about 16 percent in the third quarter, estimates released by the Urban Redevelopment Authority showed on Thursday.

This is a sharp rebound compared to the 4.7 percent decline in the second quarter, the data showed.

Non-landed private residential properties just beyond the core central region registered the highest rise of 19.1 percent in price, while prices in the core central region increased by 16.2 percent.

For the rest of Singapore, prices also went up by 15.4 percent.

In comparison, prices for all three regions saw a fall of between 2.3 and 5.2 percent for the second quarter.

The estimates are compiled based on transaction prices given in caveats lodged during the first ten weeks of the quarter, supplemented by information on the number of new units sold.