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by OrangeTee & Tie Pte Ltd.

New private home prices see sharper-than-expected jump of 3.3%, fuelling speculation of more cooling

URA Quarterly Data

URA Quarterly Data


Singapore, 23 Apr 2021

SINGAPORE - Private home prices notched a sharper-than-expected jump of 3.3 per cent in the first quarter - surpassing the flash estimate of 2.9 per cent - as buyers snapped up units from new launches amid signs of an economic recovery, low interest rates and vaccine optimism.

This is the fourth consecutive price increase and the steepest quarterly increase since the second quarter of 2018, when private residential prices rose by 3.4 per cent before property curbs hit in July that year.

Data released on Friday morning (April 23) by the Urban Redevelopment Authority (URA) showed that for the first quarter of this year, the price rise was 3.3 per cent, well over its flash estimate of 2.9 per cent and higher than the 2.1 per cent growth in the fourth quarter of last year.

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