Private home prices up 1% for 2017: URA


SINGAPORE: Private home prices increased by 1 per cent for the whole of 2017, after declining 3.1 per cent in 2016, according to the latest flash estimates from the Urban Redevelopment Authority of Singapore (URA) on Tuesday (Jan 2).

In its press release, URA said overall, the private residential property index increased 1.0 point from 137.6 points in the third quarter to 138.6 points in the fourth quarter. This represented a 0.7 per cent increase, similar to the third quarter.

Prices of non-landed private residential properties increased by 1.6 per cent in Core Central Region (CCR), compared with the 0.1 per cent increase in the previous quarter, URA data showed.

Prices in the Rest of Central Region (RCR) increased by 0.2 per cent, after registering an increase of 0.5 per cent in the previous quarter. Prices of non-landed private homes Outside the Central Region (OCR) increased by 0.6 per cent, after registering a 0.8 per cent increase in the third quarter.

For the whole of 2017, prices in CCR, RCR and OCR increased by 0.8 per cent, 1.6 per cent and 1.2 per cent respectively.

Adapted from : Channel NewsAsia, 2 Jan 2018