Urban Redevelopment Authority

The Urban Redevelopment Authority reports a 0.4% decline in private residential property prices in Q2 2023. Despite this, sales transaction volume increased by 16%, buoyed by increased unit launches.

URA’s Q1 2023 report shows a significant increase in Singapore’s private residential property prices and rentals. Prices rose by 3.3%, with landed properties jumping 5.9%. CCR and RCR non-landed properties saw increased prices, and OCR rebounded. Rental growth moderated for non-landed properties, while landed rentals surged. Developer sales improved, and the government increased private housing supply to promote a sustainable market.

Singapore’s private residential property index increased by 3.2% in Q1 2023, compared to the previous quarter, led by price gains in the Rest of Central Region and new condominium launches in the Outside Central Region, according to a flash estimate from the Urban Redevelopment Authority (URA).

It was reported in the Straits Times today (26 Sep) that a three-storey shophouse…