Private residential property prices up 0.7% in Q4

Prices also marginally rose by 1% for the whole of 2017.

Private residential property prices rose 0.7% QoQ in Q4 and 1% YoY in 2017, according to a flash estimate of the price index for private residential property released by the Urban Redevelopment Authority.

The price of landed property dipped to 0.6% QoQ in Q4.

Non-landed property, on the other hand, inched to 0.7% thanks to strong demand from Core Central Region (CCR) which registered 1.6% QoQ growth.

CCR is composed of Postal Districts 9, 10, 11, Downtown Core Planning Area and Sentosa.

Similarly, property prices in the Rest of Central Region (RCR) edged up by 0.2% QoQ whilst prices in the Outside Central Region (OCR) rose by 0.6% QoQ.

Overall, prices increased 1% for the whole of 2017 compared with the 3.1% decline registered in the previous year. 

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, added URA.