Singapore 4Q18 private property and HDB prices fall slightly

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Singapore’s private property prices fell 0.1 percent on-quarter in the fourth quarter, after rising 0.5 percent in the third quarter, preliminary data from the Urban Redevelopment Authority on Wednesday showed.

The private residential property price index fell by 0.1 point to 149.6 points, URA said.

For the full year, prices rose by 7.9 percent, compared with a 1.1 percent increase in 2017, URA said.

The decline was led by the core central region (CCR), where prices of non-landed properties fell by 1.5 percent in the fourth quarter, compared with a 1.3 percent increase in the third quarter, URA said. The CCR includes districts nine, 10 and 11, the downtown core planning area and Sentosa island.

In the rest of central region (RCR), prices rose 1.8 percent, after falling 1.3 percent in the previous quarter, while in the outside central region (OCR), prices rose 0.8 percent after slipping 0.1 percent in the third quarter, URA said.

For the full year, CCR, RCR and OCR property prices rose 6.2 percent, 7.4 percent and 9.5 percent respectively, it said.

The preliminary data includes transaction prices in contracts through mid-December, with the full set of statistics due on 25 January, the URA statement said. It noted past data have shown significant changes between the preliminary and final data.

For the public housing segment, the Housing and Development Board, or HDB, said that preliminary data showed the resale price index fell 0.2 percent on-quarter in the fourth quarter.

Resale flat prices fell 0.9 percent for 2018, according to the preliminary data, HDB said. The full data will be released on 25 January, it said.

HDB added that it would launch around 15,000 new flats for sale in 2019, with the first in February for around 3,100 flats across Jurong West, Kallang Whampoa and Sengkang.

 

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