reporter2
01-04-22, 11:22
Property price index grows at slower pace in Q1 2022 post-cooling measures: URA
Apr 01, 2022
THE overall price index for private homes in Singapore increased 0.4 per cent in the first quarter of 2022, slowing from the 5 per cent jump seen in the previous quarter after the government introduced cooling measures in December 2021.
According to the Urban Redevelopment Authority's (URA) flash estimate released on Friday (Apr 1) morning, prices of landed properties held firm and even rose 4 per cent quarter on quarter after notching a 3.9 per cent increase in Q4 2021.
However, prices of non-landed properties retreated 0.6 per cent in Q1 2022, reversing from a 5.3 per cent gain in Q4 2021.
By region, prices of non-landed homes in the core central region (CCR), or prime areas, eased 0.5 per cent in Q1 2022 after increasing 2.7 per cent in Q4 2021.
In the city fringe or rest of the central region (RCR), prices slid by a sharper 3 per cent quarter on quarter, after chalking up a 6.7 per cent gain in the previous 3 months. However, the suburbs bucked the trend, with prices in the outside central region (OCR) rising 1.9 per cent, albeit slower than the 5.7 per cent rise seen in Q4 2021.
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 Apr 22 when the URA releases its full set of real estate statistics for the first quarter of 2022.
Apr 01, 2022
THE overall price index for private homes in Singapore increased 0.4 per cent in the first quarter of 2022, slowing from the 5 per cent jump seen in the previous quarter after the government introduced cooling measures in December 2021.
According to the Urban Redevelopment Authority's (URA) flash estimate released on Friday (Apr 1) morning, prices of landed properties held firm and even rose 4 per cent quarter on quarter after notching a 3.9 per cent increase in Q4 2021.
However, prices of non-landed properties retreated 0.6 per cent in Q1 2022, reversing from a 5.3 per cent gain in Q4 2021.
By region, prices of non-landed homes in the core central region (CCR), or prime areas, eased 0.5 per cent in Q1 2022 after increasing 2.7 per cent in Q4 2021.
In the city fringe or rest of the central region (RCR), prices slid by a sharper 3 per cent quarter on quarter, after chalking up a 6.7 per cent gain in the previous 3 months. However, the suburbs bucked the trend, with prices in the outside central region (OCR) rising 1.9 per cent, albeit slower than the 5.7 per cent rise seen in Q4 2021.
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 Apr 22 when the URA releases its full set of real estate statistics for the first quarter of 2022.