Private residential prices to climb 3.4% YoY in Q3: URA

The expected price increase in Q3 is lower compared to Q2’s 3.5%.

The Urban Redevelopment Authority (URA) expects the growth of private residential prices to slightly moderate in Q3, rising by 3.4% YoY.

Last quarter, prices rose by 3.5% YoY.

Across sub-markets, URA expects the Outside Central Region (OCR) to have the highest price increase (+7.0% YoY), followed by the Rest of the Central Region (+2.5% YoY), and the Core Central Region (+2.3% YoY).

Compared to last quarter, only the RCR saw a moderation in its price growth (2.5% YoY in Q3 vs 6.4% in Q2).

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-September. Final figures for Q3 will be released on 28 October.