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URA releases flash estimate of 4th Quarter 2020 private residential property price index

  Published: 04 January 2021

The Urban Redevelopment Authority (URA) released the flash estimate of the price index for private residential property for 4th Quarter 2020 today.

Overall, the private residential property index increased by 3.2 points from 153.8 points in 3rd Quarter 2020 to 157.0 points in 4th Quarter 2020. This represents an increase of 2.1%, compared to the 0.8% increase in the previous quarter (see Annex A [PDF, 15.5kb]and Annex B [PDF, 20.4kb]). For the whole of 2020, prices increased by 2.2%, compared to the 2.7% increase in 2019.

Prices of non-landed private residential properties in the Core Central Region (CCR) increased by 3.3%, compared to the 3.8% decrease in the previous quarter. Prices in the Rest of Central Region (RCR) increased by 4.8%, compared to the 2.5% increase in the previous quarter. Prices in Outside Central Region (OCR) increased by 1.7%, same as the increase of 1.7% in the previous quarter (see Annex C [PDF, 21.1kb]). For the whole of 2020, prices in CCR decreased by 0.2%, while prices in RCR and OCR increased by 5.1% and 3.1% 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 22 January 2021 when URA releases its full set of real estate statistics for 4th 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.