Singapore home prices rose the most in more than two years in the final quarter of 2020, as speculation mounts that the government may impose measures to cool the market.

Property values increased 2.1% in the three months ended Dec 31, Urban Redevelopment Authority figures showed Jan 22. That is unchanged from the preliminary estimate earlier this month and the biggest gain since the second quarter of 2018, when prices climbed 3.4%.

A third consecutive quarter of price gains underscores resilience of the Singapore property market during the city’s worst recession. Home sales have also increased, climbing the most in six months in December.

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