SINGAPORE: Private home prices in Singapore rose 7.9 per cent in 2018, compared with a 1.1 per cent increase the previous year, according to the latest figures from the Urban Redevelopment Authority (URA) on Friday (Jan 25), confirming flash estimates announced earlier this month.
Private home prices fell by 0.1 per cent in the fourth quarter of the year, compared with the 0.5 per cent increase in Q3.
AdvertisementURA revised its estimates for prices of non-landed private homes in the Core Central Region (CCR), which decreased by 1.0 per cent in the fourth quarter of 2018. This is compared to an increase of 1.3 per cent in the previous quarter.
Prices in the Outside Central Region (OCR) increased by 0.7 per cent in the fourth quarter of the year, while prices in the Rest of Central Region (RCR) rose by 1.8 per cent.
For the whole of 2018, prices of non-landed properties in CCR, RCR and OCR increased by 6.7 per cent, 7.4 per cent and 9.4 per cent respectively.
Prices of landed properties declined by 2.0 per cent in the fourth quarter, compared with the 2.3 per cent increase in the previous quarter.
AdvertisementAdvertisementFor the whole of 2018, prices of landed properties rose by 6.3 per cent while those of non-landed properties rose by 8.3 per cent.
HDB RESALE PRICES FALL 0.9% IN 2018
Meanwhile, prices of resale flats in Singapore fell 0.9 per cent in 2018 compared to the year before, the latest figures released by the Housing and Development Board (HDB) showed, confirming flash estimates announced earlier this month.
In the fourth quarter of 2018 alone, prices fell by 0.2 per cent, according to HDB’s resale price index.
The index, which provides information on the general price movements in the resale public housing market, fell from 131.6 in the third quarter to 131.4 in the October to December period.
HDB confirmed it would launch about 15,000 new flats for sale this year.
The first Build-To-Order exercise of the year will be launched in February with an offer of about 3,100 flats in Jurong West, Kallang Whampoa and Sengkang.
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