Singapore's private home price index jumped 0.8%

See which regions showed price increase.

In a release, the Urban Redevelopment Authority (URA) announced the flash estimate of the price index for private residential property for 2nd Quarter 2013 today.

Overall, the private residential property index rose 1.7 points from 213.2 points in 1st Quarter 2013 to 214.9 points in 2nd Quarter 2013. This represents a moderate increase of 0.8%, compared to 0.6% in the previous quarter

Prices of non-landed private residential properties in Core Central Region (CCR) declined by 0.2% in 2nd Quarter 2013, compared to the 0.6% increase in the previous quarter. Prices in Rest of Central Region (RCR) saw the same 0.2% rate of increase as the previous quarter. For Outside Central Region (OCR), prices increased by 3.0% in 2nd Quarter 2013, compared to 1.4% in the previous quarter.

The flash estimates are compiled based on transaction prices given in caveats lodged during the first ten weeks of the quarter, supplemented by information on new units sold by developers in the first two months of the quarter.

The statistics will be updated 4 weeks later when URA releases the full real estate statistics for 2nd Quarter 2013, which captures more data on the caveats lodged and the take-up of new projects.

Past data have shown that the difference between the quarterly price changes indicated by the flash estimate and the actual price changes could be significant when the change is small. The public is advised to interpret the flash estimates with caution.

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