Despite a continued increase in Singapore home prices, the last six quarters delivered the slowest growth, mainly as a result of a campaign to prevent a housing bubble that started in 2009, Bloomberg writes.

Citing an initial report by the Urban Redevelopment Authority, Singapore's land-use planning and conservation agency, the news service wrote that private residential property price index went up 0.4 per cent to a record 216.2 points in the three months to 30 September. This is after climbing only 1 per cent in the second quarter. 

In June this year, the government announced new and stricter guidelines on how financial institutions should grant property loans to individuals, including looking into the borrower's existing debt before approving mortgages and making sure that home loans should not go beyond a total debt-servicing ratio of 60 per cent. 

Data by the URA shows that apartment prices dropped 0.5 per cent in prime districts in the third quarter, translating to an over 0.2 per cent decline in the previous quarter. Suburbian properties went up 2.1 per cent, compared with the 3.8 per cent increase in the prior quarter. Public housing, where 82 per cent of Singaporeans live, also saw the resale price index decline 0.7 per cent.

The URA says it will release the full report by the end of October.