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URA: 0.8% increase of private home prices in fourth quarter of 2017

The Urban Redevelopment Authority (URA) has released the real estate statistics for the fourth quarter of 2017 on Friday (26 January), saying that private home prices increased by 0.8 percent during this period.

It noted that the prices of private residential properties in this period are similar to the 0.7 previous increase in the previous quarter.

While, for the whole of 2017, it noted that prices increased by 1.1 percent, compared with the 3.1 percent decline in 2016.

 

Source: URA.

The authority said that prices of landed properties rose by 0.5 percent in the fourth quarter of 2017, compared with the 1.2 percent increase in the previous quarter. While, prices of non-landed properties rose by 0.8 percent, compared with the 0.6 percent increase in the previous quarter.  For the whole of 2017, prices of landed properties decreased by 0.5 percent while prices of non-landed properties increased by 1.3 percent.

URA also noted that prices of non-landed properties in Core Central Region (CCR) increased by 1.4 percent in the fourth quarter of 2017, compared with the 0.1 percent increase in the previous quarter. While, prices of non-landed properties in Rest of Central Region (RCR) increased by 0.4 percent, compared with the 0.5 percent increase in the previous quarter. Prices of non-landed properties in Outside Central Region (OCR) increased by 0.8 percent, same as that in the previous quarter.

It added that for the whole of 2017, prices of non-landed properties in CCR, RCR and OCR increased by 0.6 percent, 1.8 percent and 1.4 percent respectively.

URA stated that rentals of private residential properties declined by 0.9 percent in the fourth quarter of 2017, after remaining unchanged in the previous quarter. For the whole of 2017, rentals of private residential properties declined by 1.9 percent, compared with the decline of 4.0 percent in 2016.