Private home prices in Singapore increased by 3.2 per cent in the first quarter of 2023, according to official flash estimates released by the Urban Redevelopment Authority (URA) on Monday (Apr 3).
This is compared to the 0.4 per cent increase in the previous quarter.
The first quarter private residential property index increased to 194.6 points, up by 6.0 points.
However, sales fell by about 8 per cent on a quarter-on-quarter basis and by about 38 per cent on a year-on-year basis.
Prices of non-landed private residential properties in the Core Central Region (CCR) increased by 1 per cent, compared to the 0.7 per cent increase in the previous quarter.
Prices in the Rest of Central Region (RCR) increased by 4 per cent, compared to the 3.1 per cent increase.
As for the Outside Central Region (OCR), prices increased by 1.9 per cent, compared to the 2.6 decrease in the previous quarter.
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.
URA will release its full set of real estate statistics for the first quarter of 2023 on Apr 28. – CNA
