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Nikkei Markets

Cash-rich buyers drive Singapore private home prices

Property market recovery firms with fourth consecutive quarter of gains

A view of residential housing apartments in Singapore
 The biggest gains in the second quarter were seen in the rest of central region, which refers to apartments on the outskirts of the city center.   © Reuters

SINGAPORE (Nikkei Markets) -- Prices of private homes in Singapore rose for the fourth straight quarter, underpinned by demand from cash-rich buyers who've benefited as developers bid up prices for land in the city-state.

Flash estimates from the Urban Redevelopment Authority on Monday showed private residential property prices rose 3.4% from the previous quarter in the April-June period. Prices rose 3.9% in the first three months of the year.

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