NEWS & EVENTS ONLINE EXCLUSIVE

Private residential price index: URA’s flash estimate of Q4 2020

Image by Andrey_Popov/Shutterstock

Singapore, 19 January 2021 – The Urban Redevelopment Authority (URA) has released a flash estimate of the price index for private residential property for Q4 2020.

Overall, the private residential property index increased by 3.2 points from 153.8 points in Q3 2020 to 157.0 points in Q4 2020. This represents an increase of 2.1 per cent, compared to the 0.8 per cent increase in the previous quarter. For the whole of 2020, prices increased by 2.2 per cent, compared to the 2.7 per cent increase in 2019.

  • Prices of non-landed private residential properties in the Core Central Region (CCR) increased by 3.3 per cent, compared to the 3.8 per cent decrease in the previous quarter.
  • Prices in the Rest of Central Region (RCR) increased by 4.8 per cent, compared to the 2.5 per cent increase in the previous quarter.
  • Prices in Outside Central Region (OCR) increased by 1.7 per cent, same as the increase of 1.7 per cent in the previous quarter.
  • For the whole of 2020, prices in CCR decreased by 0.2 per cent, while prices in RCR and OCR increased by 5.1 per cent and 3.1 per cent 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 Q4 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.

– Construction+ Online

Source: URA