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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 
Property

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