Private residential prices rise 3.8 YoY in Q3: URA

The increase was higher than URA’s initial estimate of 3.4%.

Private residential prices grew 3.8% YoY in Q3, surpassing the Urban Redevelopment Authority’s (URA) estimate of 3.4%.

Compared to Q2, prices also grew at a faster pace (vs 3.5% YoY).

By property type, prices grew by 1.6% YoY and 4.4% YoY for landed and non-landed properties, respectively.

Across sub-markets, increases were either similar or higher than estimates. 

Prices of non-landed properties in the Core Central Region saw a 2.3% YoY growth (vs 2.3% YoY estimate), whilst the Rest of the Central Region increased by 2.8% YoY (vs 2.5% YoY estimate).

Like URA’s forecast, Outside Central Region (OCR) did have the highest price increase amongst sub-markets, posting a 7.5% growth (vs 7.0% YoY estimate).

Rentals for private residential homes also rose in Q3, increasing by 10.9% YoY; the increase is also higher than Q2’s record of 3.2% YoY.