Singapore Residential Property Index Retreat Slowed in Q2
July 22nd, 2016
Singapore's private residential property index fell 0.6 point to 140.0 points in the second Quarter from 140.6 points in first quarter, flash estimate released by the Urban Redevelopment Authority (URA) today reveals.
This represents a decline of 0.4% by quarter-on-quarter basis, slightly slower than the 0.7% decline in the previous quarter.
Prices of non-landed private residential properties rose by 0.2% in Core Central Region (CCR), compared to the 0.3% increase in the previous quarter. Prices in the Rest of Central Region (RCR) rose by 0.3%, after registering no change in the previous quarter. Prices in Outside Central Region (OCR) declined by 0.7%, after registering a 1.3% decline in the previous quarter.
The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment , the data could be updated 4 weeks later when URA releases the full real estate statistics for the quarter.