The Urban Redevelopment Authority (URA) released the flash estimate of the price index for private residential property for 3rd Quarter 2015 today.
Overall, the private residential property index fell 1.9 points from 144.2 points in 2nd Quarter 2015 to 142.3 points in 3rd Quarter 2015. This represents a decline of 1.3%, compared to the 0.9% decline in the previous quarter. (see Annex A [PDF, 15kb]).
Prices of non-landed private residential properties declined in all market segments. In Core Central Region (CCR), prices fell 1.3%, compared to the 0.6% decline in the previous quarter. Prices in Rest of Central Region (RCR) fell 1.5%, compared to the 0.6% decline in the previous quarter. In Outside Central Region (OCR), prices fell 1.6%, compared to the 1.1% decline in the previous quarter (see Annex B [PDF, 15kb]).
The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and survey data on new units sold by developers during the first ten weeks of the quarter. The statistics will be updated 4 weeks later when URA releases the full real estate statistics for 3rd Quarter 2015, which captures more data from the stamp duty records and the take-up of new projects. Past data have shown that the difference between the quarterly price changes indicated by the flash estimate and the actual price changes could be significant when the change is small. The public is advised to interpret the flash estimates with caution.
Source: URA