CHART OF THE DAY: Prices for landed private property up by 7.15% in Q1

It grew to 129.44 on a quarterly basis.

The sale price index for landed private property increased by 7.15% quarter-on-quarter to 129.44 in the first quarter of 2022, which climbed for nine straight quarters, according to a chart from PropertyGuru.

The increase is likely due to the 77 units sold in Belgravia Ace and the good performance in the Good Class Bungalow segment.

Despite this, the property expert said it is not indicative of an upward trend in the coming quarter.

It also sees more expatriates return and rent private properties as Singapore reels into living with COVID-19 as an endemic.

“Sharp spikes in private property rental prices are indicative of this movement,” PropertyGuru said in a report.