Private home prices up 0.8% in Q4 of 2017

Private home prices up 0.8% in Q4 of 2017

Private home prices increased by 0.8 per cent in fourth quarter of 2017, according to latest figures from the Urban Redevelopment Authority (URA) on Friday (Jan 26). 

SINGAPORE: Private home prices increased by 0.8 per cent in fourth quarter of 2017, according to latest figures from the Urban Redevelopment Authority (URA) on Friday (Jan 26). 

The increase is similar to the 0.7 per cent rise in the previous quarter.

For the whole of 2017, private home prices increased by 1.1 per cent, compared with the 3.1 per cent decline in 2016.

ura table

Prices of landed properties rose by 0.5 per cent in the fourth quarter, compared with the 1.2 per cent increase in the previous quarter. Prices of non-landed properties also rose by 0.8 per cent, compared with the 0.6 per cent increase in the previous quarter. 

For the whole of 2017, prices of landed properties decreased by 0.5 per cent while prices of non-landed properties increased by 1.3 per cent.

Prices of non-landed private homes in the Core Central Region (CCR) rose the most, with a 1.4 per cent increase in the fourth quarter. Prices in the Rest of Central Region (RCR) rose 0.4 per cent during the same period, while prices for those in the Outside Central Region (OCR) rose by 0.8 per cent on-quarter, figures showed.

For the whole of 2017, prices of non-landed private homes in CCR, RCR and OCR increased by 0.6 per cent, 1.8 per cent and 1.4 per cent, respectively.

Rentals of private homes declined by 0.9 per cent in the fourth quarter. For the whole of 2017, rentals were down 1.9 per cent, compared to the 4 per cent decline the year before, URA said.

Source: CNA/am

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