Prices of private residential properties jump 3.5% in Q2

This marks a faster pace of growth compared to Q1.

Prices of private residential properties have gone up quicker in Q2, rising by 3.5%. Last quarter, prices only rose by 0.7%.

Across property types, non-landed properties posted a bigger price increase, rising 3.6% in Q2 from a decrease of 0.3% in Q1. 

Data from the Urban Redevelopment Authority (URA) showed that non-landed properties in the Rest of the Central Region (+6.4%), Core Central Region (+1.9%), and Outside Central Region (+2.1%) also continued to be more expensive in the second quarter.

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Meanwhile, prices of landed properties also rose in Q2 (+2.9%), albeit at a slower pace (vs 4.2% in Q1).

In terms of rental, landed properties also slowed down, posting a 3.2% increase in Q2 from a 5.3% jump in Q1.

Non-landed properties, on the other hand, saw a pickup in rentals, increasing by 7.1% from 4.1% in the previous quarter.