Private residential property price increased by 1.2% in year 2013

by JJ Cheng 02 Jan 2014

The Urban Redevelopment Authority (URA) released the flash estimate of the price index for private residential property for 4th Quarter 2013.

Overall, the private residential property index fell 1.8 points from 216.3 points in 3rd Quarter 2013 to 214.5 points in 4th Quarter 2013. This represents a decline of 0.8%, compared to the 0.4% increase in the previous quarter. For 2013 as a whole, prices increased by 1.2%, less than the 2.8% increase in 2012.

Prices of non-landed private residential properties in both Core Central Region and Outside Central Region declined in 4th Quarter 2013. In Core Central Region, prices fell 2.2%, which is significantly larger than the 0.3% decline in the previous quarter. Prices in Outside Central Region decreased for the first time since 2nd Quarter 2009, by 0.6%, compared with the 2.2% increase in the previous quarter. In Rest of Central Region, prices increased by 0.8% in 4th Quarter 2013, compared with the 0.9% decrease in the previous quarter. For 2013 as a whole, prices in Core Central Region fell 2.1%, while prices in Rest of Central Region and Outside Central Region increased by 0.3% and 6.8% respectively. Prices of landed private residential properties fell for the first time since 2nd Quarter 2009, by 1.2%, after rising 0.3% in the previous quarter.

PSF and volume trend for condominiums and apartments in year 2013

For more statistics for condominiums and apartments, click here »

PSF and volume trend for landed properties in year 2013

For more statistics for landed properties, click here »

Source: URA

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