CCR
RCR
OCR
Source: URA
Market Outlook
Experts predict that residential property prices will continue to rise between 1% to 4% in the near future, making it a good market to invest in. With this positive news, the property sector in Singapore is poised for growth and homeowners and investors can expect a good return on their investments.
Key takeaway
- URA releases flash estimate of 2nd Quarter 2022 private residential property price index
- Private residential property price index increased by 3.2% from Q1 2022 to Q2 2022
- Prices of non-landed private residential properties in CCR, RCR, and OCR all increased
- Flash estimates are based on transactions up till mid-June and caution is advised in interpreting them
Singapore’s private residential property prices saw a strong rebound in the second quarter of 2022, with prices increasing by 3.5%. The uptick in prices was driven by both the landed and non-landed segments, with landed properties seeing a 2.9% increase in prices. The bounceback in prices can be attributed to strong housing demand amid a tight supply. Experts predict that residential property prices will continue to rise between 1% to 4% in the near future, making it a good market to invest in. With this positive news, the property sector in Singapore is poised for growth and homeowners and investors can expect a good return on their investments.
In Q2 2022, Singapore’s private residential property prices rebounded strongly, according to the latest flash estimate released by the Urban Redevelopment Authority. The overall private residential property price index increased by 3.2% from the previous quarter, representing a significant jump compared to the 0.7% increase seen in Q1 2022.
The increase in private residential property prices was largely driven by a surge in prices of non-landed private residential properties in the Rest of Central Region (RCR), which saw a 6.0% increase, compared to a 2.7% decrease in the previous quarter. Prices in the Core Central Region (CCR) and Outside Central Region (OCR) also saw increases of 1.6% and 1.7%, respectively.
It is important to note that the flash estimates are based on transactions up till mid-June and may not reflect the full impact of any changes that occurred later in the quarter. As such, caution is advised in interpreting the results.
Here is a table comparing the changes in private residential property prices across different regions between Q1 2022 and Q2 2022:
| Region | Price Change in Q1 2022 | Price Change in Q2 2022 |
|---|---|---|
| CCR | -0.1% | +1.6% |
| RCR | -2.7% | +6.0% |
| OCR | +2.2% | +1.7% |
Overall, the significant increase in private residential property prices in Q2 2022 suggests that the Singapore property market remains resilient and continues to attract investor interest. However, with caution advised in interpreting the flash estimate results, it remains to be seen how the full set of real estate statistics for Q2 2022 will pan out.
