GST refunds for processing fees paid on Development Applications and Lodgments. Click for more details.
Be wary of phishing or scam attempts. URA will NOT ask for sensitive personal information relating to your accounts, such as your Singpass ID/password or your banking ID/password. As a safeguard, all official SMSes sent by URA will not carry clickable links. Use our feedback form to report any suspicious SMSes supposedly from URA. Stay vigilant and safe! Learn how to spot these scams.
  1. Home
  2. Media Room
  3. Media Releases
  4. URA releases flash estimate of 4th Quarter 2022 private residential property price index

URA releases flash estimate of 4th Quarter 2022 private residential property price index

  Published: 03 January 2023

The Urban Redevelopment Authority (URA) released the flash estimate of the price index for private residential property for 4th Quarter 2022 today.

Overall, the private residential property index increased by 0.4 point from 187.8 points in 3rd Quarter 2022 to 188.2 points in 4th Quarter 2022. This represents an increase of 0.2%, compared to the 3.8% increase in the previous quarter (see Annex A [PDF, 27kb] and Annex B [PDF, 47kb]). For the whole of 2022, prices increased by 8.4%, compared to the 10.6% increase in 2021. The moderation in price increase came on the back of a decline in private housing sales. Sale transaction volume fell by about 49% on a quarter-on-quarter basis and by about 60% on a year-on-year basis in 4th Quarter 2022. For the whole of 2022, sale transaction volume fell by about 36% compared to 20211.

Prices of non-landed private residential properties in the Core Central Region (CCR) increased by 0.5%, compared to the 2.3% increase in the previous quarter. Prices in the Rest of Central Region (RCR) increased by 2.6%, compared to the 2.8% increase in the previous quarter. Prices in the Outside Central Region (OCR) decreased by 2.6%, compared to the 7.5% increase in the previous quarter (see Annex C [PDF, 30kb]). For the whole of 2022, prices in CCR, RCR, OCR increased by 4.6%, 9.2% and 9.3% 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 27 January 2023 when URA releases its full set of real estate statistics for 4th Quarter 2022. Past data have shown that the difference between the quarterly prices changes indicated by the flash estimate and the actual changes could be significant when the change is small. The public is advised to interpret the flash estimates with caution.

1 Sale transaction volume (up to mid-December) totalled 3,135 in 4th Quarter 2022, compared to 6,148 in 3rd Quarter 2022 and 7,925 in 4th Quarter 2021. Sales transaction volume (up to mid-December) totalled 21,437 in 2022, compared to 33,557 in 2021.

 

Top