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URA releases flash estimate of 4th Quarter 2019 private residential property price index

  Published: 02 January 2020

The Urban Redevelopment Authority (URA) released the flash estimate of the price index for private residential property for 4th Quarter 2019 today.

Overall, the private residential property index increased by 0.5 point from 152.8 points in 3rd Quarter 2019 to 153.3 points in 4th Quarter 2019. This represents an increase of 0.3%, compared to the 1.3% increase in the previous quarter (see Annex A [PDF, 16kb] and Annex B [PDF, 17kb]). For the whole of 2019, prices have increased by 2.5%, compared to the 7.9% increase in 2018.

Prices of non-landed private residential properties decreased by 3.7% in Core Central Region (CCR), compared to the 2.0% increase in the previous quarter. Prices in the Rest of Central Region (RCR) decreased by 1.4%, after registering an increase of 1.3% in the previous quarter. Prices in Outside Central Region (OCR) increased by 2.9%, compared to the 0.8% increase in the previous quarter (see Annex C [PDF, 17kb]). For the whole of 2019, prices in CCR decreased by 2.6%, while prices in RCR and OCR increased by 2.7% and 4.3% respectively.

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-December. The statistics will be updated on 23 January 2020 when URA releases its full set of real estate statistics for 4th Quarter 2019. 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.