Private property prices edge up 0.3% in Q2: URA

SINGAPORE: Private home prices in Singapore in the second quarter edged up 0.3 per cent from the previous quarter, while transactions fell to its lowest in more than two years amid the COVID-19 pandemic, updated data from the Urban Redevelopment Authority (URA) showed on Friday (Jul 24).

The private residential property price index increased to 152.6 points in the second quarter, up from 152.1 points in the first quarter.

The revised figure for the second quarter reverses the 1.1 per cent decline flagged in the flash estimates released earlier this month.

It is also an increase from the 1 per cent drop seen in the first quarter.

URA property price index Q2
(Graph: URA)

By property type, prices of landed homes remained unchanged in the second quarter, compared with the 0.9  per cent decrease in the previous quarter.