July 2, 2012 / 1:08 AM / 5 years ago

Singapore resale HDB prices +1.3 pct in Q2 from Q1

SINGAPORE, July 2 (Reuters) - Resale prices of government-built HDB apartments rose 1.3 percent in the second quarter from the first three months of 2012, accelerating from a gain of 0.6 percent in the first quarter, Singapore’s Housing and Development Board said on Monday.

Singapore has been experiencing higher inflation than many of its Asian neighbours, mainly due to a shortage of homes as well as measures to cap the number of motor vehicles on the roads that have sent car prices spiralling higher.

Earlier on Monday, the Urban Redevelopment Authority said private home prices rose 0.4 percent quarter-on-quarter in April to June, reversing a 0.1 percent decline in the first quarter.

HDB, which houses around 80 percent of Singapore’s 5.2 million population, said it will offer 25,000 build-to-order (BTO) flats in 2012. Around 5,200 new flats will be offered for sale this month.

Prices of HDB apartments have been rising since the second quarter of 2009. (Reporting by Kevin Lim; editing by Rachel Armstrong)

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