Private home prices up 0.4% in Q4 for full-year gain of 8.6%, but future increases expected to slow

IN THE face of a looming global recession, a fresh round of cooling measures, a high-interest-rate environment and lack of launches, private home prices in Singapore inched up 0.4 per cent in the fourth quarter of 2022.

This was slightly higher than the 0.2 per cent flash estimate by the Urban Redevelopment Authority (URA) earlier this month, and follows an increase of 3.8 per cent in the previous quarter. It also represents the lowest quarter-on-quarter rise in over two years, since prices grew a marginal 0.3 per cent in the second quarter of 2020.

In 2022, prices of private homes went up 8.6 per cent, compared to the 10.6 per cent rise in 2021.