Flash estimates released today showed that home prices in both the private residential property and HDB resale flat segments rose in Q1 2024, though at varying pace. Overall private home prices grew at a slower clip in Q1 2024 due to the weaker sales volume and the higher base in the prior quarter, while HDB resale flat prices found some renewed strength as healthy demand and more high value transactions put an upward pressure on resale flat prices in Q1 2024. The flash estimates tracked transactions up till mid-March; the final print for the entire quarter will be published on 26 April 2024.

Q1 2024 URA Private Residential Property Index (Flash)

Flash estimates from the Urban Redevelopment Authority (URA) showed that overall private home prices climbed by 1.5% QOQ in Q1 2024, easing from the 2.8% QOQ increase in the previous quarter (see Table 1). The moderation in prices can be attributed to the relatively listless sales in Q1 amid the festive seasons, and tentative buying sentiment following slower transactions in 2023.

In Q1 2024, several residential projects including an EC development (The Arcady at Boon Keng, Hillhaven, Lentoria, Lentor Mansion, Koon Seng House, Ardor Residence, and Lumina Grand EC) were put on the market in, with no launches in February, in view of the Lunar New Year holidays. 

Table 1: URA Private Property Price Index

Price Indices	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q4 2023	Q1 2024 (Flash)
	(QOQ % Change)				(YOY % Change)	(QOQ % Change)
Overall PPI	3.3	-0.2	0.8	2.8	6.8	1.5
Landed	5.9	1.1	-3.6	4.6	8.0	3.4
Oh no! Enjoy our Content? If it is of any consolation, know that you are not alone in this real estate journey. Let us show you the way to make this journey an interesting and enjoyable one! Do check and try again! Are you ready for more? {{ error ? 'Submit Email' : 'Count me in!'}} Suggested Reads Flash Estimates - Private Home Prices Saw Modest Growth While HDB Resale Prices Post First Quarterly Decline In Nearly Seven Years In Q1 2026 Developers' Sales Fell In February In The Absence Of New Project Launches Amid The Chinese New Year Festive Period Upcoming Events View more PWS Masterclass 2026 July 25, 2026 Singapore Property Xpo 2026 - Register Interest July 25, 2026 You may like Flash Estimates - Private Home Prices Saw Modest Growth While HDB Resale Prices Post First Quarterly Decline In Nearly Seven Years In Q1 2026 April 01, 2026 Developers' Sales Fell In February In The Absence Of New Project Launches Amid The Chinese New Year Festive Period March 16, 2026 PropNex Partners Mandai Wildlife Group as Naming Sponsor of 'PropNex Sky Amphitheatre' at Bird Paradise March 10, 2026 January's New Private Home Sales Signal Steady Start to 2026; Demand for New Executive Condominiums Holds Up February 16, 2026 Growth In Private Home And HDB Resale Flat Prices Touched Multi-Year Low In 2025, While Housing Demand Stayed Resilient, Settling Into A Goldilocks Market January 23, 2026 Developers' Sales Fell To The Lowest In Nearly Two Years In December 2025, As A Lack Of Major Launches And The Seasonal Lull Curtailed Market Activity January 15, 2026 Oh no! Enjoy our Content? If it is of any consolation, know that you are not alone in this real estate journey. Let us show you the way to make this journey an interesting and enjoyable one! Do check and try again! Are you ready for more? {{ error ? 'Submit Email' : 'Count me in!'}} You are Set! Stay tuned to our brain-teasing content slated to roll out via email soon. Email Submitted! You subscribed earlier! No biggie, remember to check your junk mail if you have yet to hear from us! Follow us on WeChat