Singapore's private residential prices gained 0.7 percent in the third quarter, rising for the first time in nearly four years, government data showed on Friday.
The rebound compares with the 0.1 percent decline in the previous quarter and slightly faster than the 0.5 percent increase shown in the flash estimates, according to latest figures from the Urban Redevelopment Authority (URA).
The rise in the index for the third quarter comes after 15 consecutive quarterly declines since the peak in third quarter of 2013.
Prices of landed properties rose by 1.2 percent, compared with the 0.3 percent decrease in the previous quarter while prices of non-landed properties rose by 0.6 percent compared with a decline of 0.1 percent last quarter, URA said.
However, rentals of private residential properties remained unchanged, compared with the 0.2 percent decline in the previous quarter.
The data also showed that developers sold 2,663 private homes, excluding executive condominiums (ECs), in the third quarter, compared with the 3,077 units sold in the April to June period.
The vacancy rate of completed private homes (excluding executive condos or ECs) rose to 8.4 percent as at the end of third quarter from 8.1 percent in the previous quarter.
An estimated 6,006 units, including ECs, will be completed in the fourth quarter of 2017. Next year, another 11,519 units, including ECs, is expected to be completed, URA said.
