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URA releases flash estimate of 1st Quarter 2018 private residential property price index

  Published: 02 April 2018

The Urban Redevelopment Authority (URA) released the flash estimate of the price index for private residential property for 1st Quarter 2018 today.

Overall, the private residential property index increased 4.3 points from 138.7 points in 4th Quarter 2017 to 143.0 points in 1st Quarter 2018. This represents an increase of 3.1%, compared to the 0.8% increase in the previous quarter (see Annex A [PDF, 13kb] and Annex B [PDF, 13kb]).

Prices of non-landed private residential properties increased by 5.0% in Core Central Region (CCR), compared to the 1.4% increase in the previous quarter. Prices in the Rest of Central Region (RCR) increased by 1.1%, after registering an increase of 0.4% in the previous quarter. Prices in Outside Central Region (OCR) increased by 3.8%, after registering a 0.8% increase in the previous quarter (see Annex C [PDF, 13kb]).

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 till mid-March. The statistics will be updated on 27 April 2018 when URA releases its full set of real estate statistics for 1st Quarter 2018. 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 public is advised to interpret the flash estimates with caution.