The Urban Redevelopment Authority (URA) released the flash estimate of the price index for private residential property for 2nd Quarter 2022 today.

Overall, the private residential property price index increased by 5.6 points from 174.8 points in 1st Quarter 2022 to 180.4 points in 2nd Quarter 2022. This represents an increase of 3.2%, compared to the 0.7% increase in the previous quarter (see Annex A [PDF, 7kb] and Annex B [PDF, 9kb]).

Prices of non-landed private residential properties in the Core Central Region (CCR) increased by 1.6%, compared to the 0.1% decrease in the previous quarter. Prices in the Rest of Central Region (RCR) increased by 6.0%, compared to the 2.7% decrease in the previous quarter. Prices in Outside Central Region (OCR) increased by 1.7%, compared to the 2.2% increase in the previous quarter (see Annex C [PDF, 11kb]).

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-June. The statistics will be updated on 22 July 2022 when URA releases its full set of real estate statistics for 2nd Quarter 2022. 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.