1.   The Urban Redevelopment Authority (URA) released today the real estate statistics for 2nd Quarter 2024.

PRIVATE RESIDENTIAL PROPERTIES

Private residential market at a glance:

Prices and Rentals

2.   Prices of private residential properties increased by 0.9% in 2nd Quarter 2024, compared with the 1.4% increase in the previous quarter.

Property Price Index of private residential properties

3.   Prices of landed properties increased by 1.9% in 2nd Quarter 2024, a moderation from the 2.6% increase in the previous quarter. Prices of non-landed properties increased by 0.6% in 2nd Quarter 2024, compared with the 1.0% increase in the previous quarter.

4.   Prices of non-landed properties in Core Central Region (CCR) decreased by 0.3% in 2nd Quarter 2024, compared with the 3.4% increase in the previous quarter. Prices of non-landed properties in Rest of Central Region (RCR) increased by 1.6% in 2nd Quarter 2024, compared with the 0.3% increase in the previous quarter. Prices of non-landed properties in Outside Central Region (OCR) increased by 0.2% in 2nd Quarter 2024, same as that in the previous quarter (see Annex A-11).

5.   Rentals of private residential properties decreased by 0.8% in 2nd Quarter 2024, following the 1.9% decrease in the previous quarter.