English
Growth in Singapore Q4 private home prices slows to 0.2% from Q3 as suburban prices drop
PRIVATE residential property prices inched up 0.2 per cent in the fourth quarter of 2022 after growing 3.8 per cent in the third quarter, the Urban Redevelopment Authority (URA) flash estimates show.
For the whole of 2022, prices increased by 8.4 per cent, compared to the 10.6 per cent increase in 2021. URA said the moderation in price increase came as private housing sales declined.
Sale transaction volume fell by about 49 per cent quarter on quarter and by about 60 per cent year on year in Q4. For the whole of 2022, sale transaction volume fell by about 36 per cent compared to 2021.
Prices of non-landed private residential properties in the core central region (CCR) increased by 0.5 per cent, compared to the 2.3 per cent increase in the previous quarter. Prices in the rest of central region (RCR) increased by 2.6 per cent, compared to the 2.8 per cent growth in the previous quarter.
Meanwhile, prices in the outside central region (OCR) fell by 2.6 per cent, compared to the 7.5 per cent increase in Q3.
For the whole of 2022, prices in CCR, RCR, OCR increased by 4.6 per cent, 9.2 per cent and 9.3 per cent respectively.
URA’s flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and data on units sold by developers up till mid-December.
The numbers will be updated on Jan 27 when URA releases its full set of real estate statistics for Q4.
Past data have shown that the difference between the quarterly price changes indicated by the flash estimate and the actual price changes could be significant when the change is small, said the authority.
Source: https://www.businesstimes.com.sg/property/growth-singapore-q4-private-home-prices-slows-02-q3-suburban-prices-drop