Singapore property: HDB resale prices fell 0.9%, private property prices rose 7.9% in 2018

The Housing and Development Board and the Urban Redevelopment Authority released flash estimates on Jan 2 for resale flat prices and private property prices in the fourth quarter of 2018.
Singapore Press Holdings

Resale flat prices fell while private property prices rose in 2018, according to flash estimates by the Housing and Development Board (HDB) and the Urban Redevelopment Authority (URA) which were released on Wednesday (Jan 2).

According to HDB’s resale price index, prices of resale flats in Singapore fell 0.9 per cent in 2018 compared to the year before.

In Q4, there was a price decline of 0.2 per cent from the third quarter.

HDB

The price index of HDB resale flats from 1994 to 2018 (the fourth quarter of 2018 index is a flash estimate).
HDB

The board also said that about 15,000 new flats will be launched for sale in 2019. About 3,100 flats in Jurong West, Kallang Whampoa and Sengkang will be offered in the first Build-to-Order (BTO) sales exercise in February.

Private property prices rise

Meanwhile, private property prices in Singapore rose 7.9 per cent in 2018, compared with the 1.1 per cent increase the year before, URA’s estimates showed.

The private residential property price index from 1993 to 2018 (the fourth quarter of 2018 index is a flash estimate).
URA

Private home prices slowed to a 0.5 per cent increase in the third quarter of 2018, and fell 0.1 per cent in the fourth quarter.

The comparison of property price index between the third and fourth quarters (flash estimate) of 2018.
URA

Prices of non-landed private homes in the Core Central Region (CCR) decreased by 1.5 per cent in Q4, compared to an increase of 1.3 per cent in the third quarter.

In the same period, prices in the Rest of Central Region (RCR) rose by 1.8 per cent, while prices in the Outside Central Region (OCR) increased by 0.8 per cent.

For the whole of 2018, prices in CCR, RCR and OCR increased by 6.2 per cent, 7.4 per cent and 9.5 per cent respectively.