The Urban Redevelopment Authority (URA) Property Price Index is a key indicator of the property market in Singapore. It tracks the price movements of private residential, landed residential, and non-landed residential properties. The URA releases the index on a quarterly basis, providing a snapshot of the state of the property market.

The URA Property Price Index is an important tool for property buyers, sellers, and investors. It provides an overview of the property market and helps to inform decisions about buying or selling property. The index is also used by policymakers to monitor the health of the property market and to make decisions about policies that affect the market.

Overview Of URA Private Residential Property Price Index

FAQ

What is URA Property Price Index?

The Urban Redevelopment Authority (URA) Property Price Index (PPI) is a quarterly report that tracks the price movements of private residential properties in Singapore. It is considered the official benchmark for private residential property prices in Singapore. The PPI is based on a basket of private residential properties, including landed and non-landed properties. It tracks the price changes of these properties over time and provides a comprehensive overview of the state of the private residential property market in Singapore.

Why is URA Property Price Index important?

The URA Property Price Index is an important indicator of the health of the Singapore real estate market. It provides valuable insights into the trends and patterns of property prices in Singapore, which can be useful for property buyers, sellers, and investors. For property buyers, the PPI can be used as a guide to determine whether a property is priced fairly or not. For property sellers, the PPI can be used to set a realistic asking price for their property. For investors, the PPI can be used to identify potential investment opportunities and to monitor the performance of their existing investments.

How is URA Property Price Index calculated?

The URA Property Price Index is calculated using a hedonic regression model, which takes into account the characteristics of each property, such as location, age, and size. The model is used to estimate the value of each property based on these characteristics, and the estimated values are then aggregated to calculate the overall PPI. The PPI is calculated on a quarterly basis and is released approximately six weeks after the end of each quarter. The report includes information on property prices, rentals, vacancies, supply, and stock of private residential and commercial properties in Singapore. Overall, the URA Property Price Index is an important tool for anyone interested in the Singapore real estate market. It provides valuable insights into the state of the market and can be used to make informed decisions about buying, selling, or investing in property.

Private Residential Property Price Index

What is the Private Residential Property Price Index?

The Private Residential Property Price Index (PRPPI) is a quarterly index released by the Urban Redevelopment Authority (URA) that tracks the price movements of private residential properties in Singapore. It measures the changes in prices of completed private residential properties and is computed based on the resale prices of non-landed private residential properties transacted in the quarter.

How has the Private Residential Property Price Index changed over time?

The PRPPI has been volatile in recent years, with fluctuations in response to changes in the property market and the economy. In Q1 2021, the PRPPI increased by 4.6 points from 157.0 points in Q4 2020 to 161.6 points. However, in Q4 2022, the PRPPI increased by only 0.4 points from 187.8 points in Q3 2022 to 188.2 points, indicating a slower rate of growth in property prices.

What are the factors affecting the Private Residential Property Price Index?

Several factors affect the PRPPI, including:

  • Supply and demand: The supply of private residential properties affects the PRPPI, with an oversupply leading to a decrease in prices and an undersupply leading to an increase in prices.
  • Interest rates: Interest rates affect the affordability of private residential properties, with higher interest rates leading to a decrease in prices and lower interest rates leading to an increase in prices.
  • Economic conditions: Economic conditions affect the demand for private residential properties, with a strong economy leading to an increase in prices and a weak economy leading to a decrease in prices.
  • Government policies: Government policies such as cooling measures and stamp duties affect the demand for private residential properties, with tighter policies leading to a decrease in prices and looser policies leading to an increase in prices.

Overall, the PRPPI is an important indicator of the health of the property market in Singapore, and it is closely watched by investors, developers, and homebuyers alike.