Singapore home prices increased to a record in the third quarter, flash estimates published by the Urban Redevelopment Authority showed Monday.
House prices grew 0.5 percent from a quarter ago, following a 0.4 percent rise in the second quarter. The pace of change in prices varied across the different market segments.
Elsewhere, the Housing and Development Board said the resale price index climbed 2 percent sequentially in the third quarter.
House prices increased as government announced measures in September to discourage development of new dwellings, predominantly of "shoebox" units.
In a statement released on September 4, URA said the total number of dwelling units that can be built on a development site for non-landed private residential developments outside the Central Area will be capped.
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