Private residential market sees further moderation of price and rental momentum in 2Q2024
Urban Redevelopment Authority·2024-07-26 12:02
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.
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