Prices of private homes rose 3.9% as resale HDB prices dipped slightly in Q1

The Straits Times

The first quarter of 2018 saw prices of private home rising by 3.9%, while resale prices of HDBs dipped slightly by 0.8% from the quarter before.

According to statistics provided by Singapore’s Urban Redevelopment Authority (URA), prices of landed properties rose by 1.9% while prices of non-landed properties rose by 4.4% in Q1.

URA

Prices of non-landed properties in the Core Central Region (CCR) were up by 5.5%, while those in the Rest of Central Region (RCR) and Outside Central Region (OCR) increased by 1.2%, and 5.6% respectively.

There were fewer resale transactions in the private home sector, with a total of 3,666 transactions, down from 4,226 units in 2017 Q4.

Resale transactions accounted for 68.8% of all private home sale transactions in Q1, a slight increase from 68.1% the previous quarter.

For HDB units, prices continued to decline in Q1.

HDB

At the same time, a total of 4,458 resale transactions were registered, down from the 5,738 in 2017 Q4.

HDB

Rentals

In the rental market, overall private residential rentals improved with an increase of 0.3% in Q1, compared to a decline of 0.9% in Q4 2017.

Rentals of non-landed private properties were up 0.6% in CCR and 0.7% in OCR, but rentals in RCR decreased by 0.3%.

At the end of 2018 Q1, there were 54,329 HDB flats rented out, up 1.1% from 2017 Q4.