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Singapore private home prices up 0.8% in Q3 from previous quarter: URA flash estimate
THE Urban Redevelopment Authority’s (URA) flash estimate for the third quarter of this year showed that the overall price index for private homes in Singapore edged up 0.8 per cent over the preceding three months.
This comes after a 0.3 per cent increase in Q2 this year.
According to the URA flash estimate released on Thursday morning, prices of non-landed private homes were flat in Q3 versus Q2, after a 0.4 increase in the previous quarter.
However, prices of landed properties rose 3.8 per cent quarter on quarter in Q3, after remaining unchanged in Q2.
By region, prices of non-landed homes in the core central region (CCR) slid 4.9 per cent in Q3, reversing from a 2.7 per cent growth in Q2.
However, in the city fringe or rest of central region (RCR), prices went up by 3.3 per cent, compared to a decline of 1.7 per cent in the prior quarter.
In the suburbs or outside central region (OCR), prices rose by 1.7 per cent in Q3, compared with a marginal increase of 0.1 per cent in Q2.
The flash estimate is compiled based on transaction prices given in contracts submitted for stamp duty payment, and data on units sold by developers up to mid-September. The statistics will be updated on Oct 23, when the URA releases its full set of real estate statistics for the third quarter.
“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,” the URA said in a statement, adding that the public is advised to interpret the flash estimate with caution.
Source: https://www.businesstimes.com.sg/real-estate/singapore-private-home-prices-up-08-in-q3-from-previous-quarter-ura-flash-estimate