According to latest flash estimates from the Urban Redevelopment Authority (URA), Singapore private home prices have risen by 2.9% in the Q1 of 2021, an increase from the previous quarter where prices rose 2.1%.
Overall, we can see that the Q1 private residential property index increased to 161.6 points, an increase of 4.6 points from the Q4 of 2020.
Landed Property prices in Q1 have seen a rise by 5.6%. A significant increase since the 1.6% fall in the last quarter.
Non-landed properties prices on the other hand are up 2.1%, as compared to the 3% increase in the Q4. Whereby prices of non-landed properties in the RCR went up by 6.1%, followed by the increase of 0.9% in the OCR. Non-landed properties in the CCR, however, saw a decrease in 0.3% this quarter.
COMPARISON OF PROPERTY PRICE INDEX FOR 4TH QUARTER 2020 AND 1ST QUARTER 2021
| Price Index1 | % Change over Previous Quarter | |||
| 4Q/20 | 1Q/21 | 4Q20 | 1Q/21 | |
| All Residential (1Q09=100) |
157.0 | 161.6 | 2.1 | 2.9 |
|
Landed |
173.8 | 183.5 | -1.6 | 5.6 |
| Non-landed Property |
153.3 | 156.5 | 3.0 | 2.1 |
| CCR2/ | 133.6 | 133.2 | 3.2 | -0.3 |
| RCR3/ | 160.6 | 170.4 | 4.4 | 6.1 |
| OCR | 183.6 | 185.3 | 1.8 | 0.9 |
(Source: URA Media Release)