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|
(Source: URA Media Release)