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Residential
Overall private residential sales increased in 1Q23 on rebound of new home sales
Overall price growth accelerated in 1Q23, driven by increased transactions, higher landed home prices and new benchmark prices set for project launches
URA Private Residential Property Price Index Q-o-Q Changes
Slight uptick in unsold stock but remains significantly lower than pre-COVID levels
Rents rise unabated with landed properties seeing rapid growth
Outlook
Office
1Q23 office rent growth kept pace with 4Q22
Modest rent growth foreseen for the near-term
Strengthening demand for investment grade strata offices to lend support to prices
Retail
URA headline retail property rents and prices continue to soften
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4Q22 1Q23
Overall 0.4% 3.3%
Non-landed 0.3% 2.6%
CCR 0.7% 0.8%
RCR 3.1% 4.4%
OCR -2.6% 1.9%
Landed 0.6% 5.9%