Private residential home prices up by 8.4% in 2022

However, it is a decrease from last year due to a decline in sales.

The price increase of private residential property in 2022 went up 8.4% from 10.6% in 2021, the Urban Redevelopment Authority said.

In a statement, the decrease in price increase was because private housing sales fell by 48% on a quarter-on-quarter basis and by about 60% on a yearly basis in the fourth quarter of 2022.

The private residential property index also increased by 0.4 points, or 0.2%, in the 4th quarter of 2022, compared to a 3.8% increase in the previous quarter. For the whole of 2022, sale transaction volume went down 36% compared to 2021.

Prices of non-landed private residential properties in the core central region (CCR) grew by 0.5%, whilst prices in the rest of central region (RCR) increased by 2.6% and prices in the outside central region (OCR) declined 2.6%. For the whole of 2022, prices in the CCR, RCR, and OCR increased by 4.6%, 9.2%, and 9.3%, respectively.

Follow the link for more news on

Urban Redevelopment Authority

Also Read

One Sophia sells 30% of units at weekend launch

Turf City sites could deliver up to 800 public housing units: Huttons

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit