- 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.
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.
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.
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.