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URA releases flash estimate of 1st Quarter 2020 private residential property price index

  Published: 01 April 2020

The Urban Redevelopment Authority (URA) released the flash estimate of the price index for private residential property for 1st Quarter 2020 today.

Overall, the private residential property index decreased by 1.8 points from 153.6 points in 4th Quarter 2019 to 151.8 points in 1st Quarter 2020. This represents a decrease of 1.2%, compared to the 0.5% increase in the previous quarter (see Annex A [PDF, 15kb] and Annex B [PDF, 16kb]).

Prices of non-landed private residential properties in the Core Central Region (CCR) decreased by 1.5%, compared to the 2.8% decrease in the previous quarter. Prices in the Rest of Central Region (RCR) decreased by 0.5%, compared to the 1.3% decrease in the previous quarter. Prices in Outside Central Region (OCR) decreased by 1.0%, compared to the 2.8% increase in the previous quarter (see Annex C [PDF, 16kb]).

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 24 April 2020 when URA releases its full set of real estate statistics for 1st Quarter 2020. 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.