Property News · April 2, 2018

Private home prices up 3.1% in Q1, says URA


Private home prices in Singapore continue to rise.
Private home prices rose by 3.1 percent during the first quarter of 2018, up from the 0.8 percent increase seen in the previous quarter, according to flash estimates released by the Urban Redevelopment Authority (URA) on Monday (2 Apr).
Prices of non-landed private homes in the Core Central Region saw the biggest jump of 5.0 percent, following a 1.4 percent hike seen during the previous quarter.
More: Strongest first quarter on record for Singapore investment sales
Prices in the Rest of Central Region climbed by 1.1 percent, compared to the previous 0.4 percent increase. Over in the Outside Central Region, prices rose by 3.8 percent, after increasing by 0.8 percent previously.
URA noted that 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 full statistics for Q1 will be released on 27 April.
“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,” said URA.
As such, it advises the public to interpret the flash estimates with caution.
 
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Source : proppertyguru.com.sg/Property Market
Read more…Private home prices up 3.1% in Q1, says URA

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