SINGAPORE: Prices of private homes increased by 3.3 per cent in the first quarter of 2023, accelerating from a 0.4 per cent increase in the previous quarter, according to the Urban Redevelopment Authority's statistics released on Friday (Apr 28). The increase was higher for landed properties at 5.9 pe
SINGAPORE: Prices of private homes increased by 3.3 per cent in the first quarter of 2023, accelerating from a 0.4 per cent increase in the previous quarter, according to the Urban Redevelopment Authority's statistics released on Friday .
Suburban or Outside Central Region condo prices increased by 1.9 per cent, reversing a 2.6 per cent decline in the previous quarter. Prices in the Core Central Region edged up by 0.8 per cent. There were 2,622 resale transactions. Resale transactions accounted for 63.6 per cent of all sales in the first quarter. There were 243 sub-sales, in which the buyer sells on the property to another buyer before the condo's completion.A total of 3,785 private residential units were completed in the first quarter of 2023, fewer than the 4,423 units completed in the preceding quarter.
Based on the expected completion dates reported by developers, 15,221 units will be completed in the remaining three quarters of 2023. Another 21,421 units are expected to be completed in 2024 and 2025.
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