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Singapore Q2 home prices up 3.2% on 6% jump in city-fringe condos: URA
THE Urban Redevelopment Authority’s (URA) flash estimate for the second quarter of 2022 shows that the overall price index for private homes rose 3.2 per cent over the preceding quarter.
This follows a 0.7 per cent gain in Q1 this year.
Year on year, the index is up 10.3 per cent, according to the URA flash estimate released on Friday (Jul 1) morning.
Prices of non-landed properties increased 3.3 per cent quarter on quarter (qoq) in Q2 after slipping 0.3 per cent in the previous quarter.
Giving a breakdown by region, the URA said that prices of non-landed homes in the prime areas or core central region (CCR) rose 1.6 per cent in Q2, after dipping 0.1 per cent in the previous quarter.
In the city fringe or rest of central region (RCR), prices jumped 6.0 per cent qoq in Q2, contrasting with a drop of 2.7 per cent in the previous quarter.
In the suburbs or outside central region (OCR), prices moved up 1.7 per cent in Q2, after rising 2.2 per cent in the previous quarter.
The URA also said that prices of landed properties rose 2.9 per cent qoq in Q2, after climbing 4.2 per cent in the previous quarter.
The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment, and data on units sold by developers up to mid-June. The statistics will be updated on Jul 22, when the URA releases its full set of real estate statistics for the second quarter.
Source: https://www.businesstimes.com.sg/real-estate/singapore-q2-home-prices-up-32-on-6-jump-in-city-fringe-condos-ura