Residential housing in Singapore on April 29, 2023. (File photo: Bloomberg)

SINGAPORE — Singapore private home prices rose more than estimated in the second quarter of 2025, just before new curbs were introduced, underscoring authorities’ anxiety about a rekindling of the property boom.

An index for prices of private residences gained 1% in the three months ended June from the previous quarter, according to data released on Friday by the Urban Redevelopment Authority. That is twice the pace of the initial estimate of 0.5%, marking the third consecutive quarter of increases.

Separately, private home rents climbed 0.8% from the previous quarter, when they rose 0.4%. Rental prices had been moderating after surging to record highs in recent years.

While growth in home sales has slowed due to uncertainty caused by US tariff policies, developers have slated numerous project launches for July and August, after a traditionally quiet month for home purchases in June.

Singapore authorities added new measures earlier this month on growing concerns about a trend of buyers flipping properties for a quick profit, which pushed up prices, further hitting affordability in one of the world’s most expensive residential markets.

Prices could accelerate further at a higher rate in the third quarter, said Nicholas Mak, chief research officer at property portal Mogul.sg. The curbs introduced so far have been seen largely as a “tap on the wrist,” he said.

The first mass-market development launched in the wake of the curbs sold more than 94% of its units on debut, while two other projects in upscale neighbourhoods offloaded about half of their units for sale. Still, another city centre property in the luxury market segment sold just two apartments, a fraction of its 683 units.

Reflecting unease within the real estate industry, a senior executive on Thursday criticised the multiple rounds of measures that have been imposed on the sector over the years.

The curbs have put the “development business in a very, very challenging and difficult position,” Chia Ngiang Hong, group general manager at City Developments Limited, one of the country’s largest property firms, said during a panel discussion at an industry event.