URA Private Residential Property Price Index (PPI)
What is the URA property price index (PPI)?
The URA Private Residential Property Price Index (PPI) is the official quarterly measure of private home price changes in Singapore. URA compiles it mainly from caveats lodged with SLA, uses a stratified hedonic method to adjust for differences such as age and size, and excludes HDB flats. Private home prices rose 1.4% in the 3rd quarter of 2026.
Key facts
- Published by
- The Urban Redevelopment Authority (URA), every quarter
- Latest change (3Q 2026)
- +1.4% overall; landed +2.9%; non-landed +1.0% (released 23 October 2026)
- Data sources
- Caveats lodged with SLA, IRAS stamp duty data, and nett prices from housing developers
- Method (since 1Q 2015)
- Stratified hedonic regression with 5-quarter fixed weights
- Excludes
- HDB flats and other public sector buildings, en bloc sales and short-tenure units
- Flash estimate
- An early figure released on the first day of the next quarter, from data up to the middle of the quarter's last month
As of 6 Nov 2026. Source: URA.
How the index works
Every quarter, URA gathers private residential transactions: resales and sub-sales from caveats lodged with SLA, supplemented with IRAS stamp duty data, and new sales from housing developers, using nett prices after discounts and benefits. It groups transactions by property type, locality, tenure and completion status, controls for attributes such as age and size, and combines the results with fixed weights.
| Index | Covers |
|---|---|
| Overall | All private residential property |
| Landed | Detached, semi-detached, terrace and strata landed houses |
| Non-landed | Apartments, condominiums and ECs more than 10 years old |
| Non-landed by segment | CCR, RCR and OCR |
Latest figures, 3rd quarter 2026
| Measure | Change on the previous quarter |
|---|---|
| Overall price index | +1.4% (2Q 2026: +0.5%) |
| Landed | +2.9% |
| Non-landed | +1.0% |
| Non-landed, CCR | +0.3% |
| Non-landed, RCR | 0.0% |
| Non-landed, OCR | +2.3% |
| Rental index | +1.3% |
Over the first three quarters of 2026, prices rose by an average of 0.9% a quarter.
Example
A news report says private home prices rose 1.4% in the 3rd quarter. That is the change in the overall index, not in any one home’s value. A $2,000,000 condo would rise by $28,000 only if it tracked the index exactly. Check the segment figures, which ranged from 0.0% in the RCR to 2.3% in the OCR.
Common mistakes
- Treating the flash estimate as final. It is based on partial data and can be revised.
- Applying the index to HDB flats. It excludes HDB flats and other public sector buildings.
- Comparing a single sale with the index. The index tracks the market, adjusting for the mix of homes sold.
Frequently asked questions
What is the difference between the flash estimate and the final figure?
The flash estimate comes first, using stamp duty prices and developer sales up to the middle of the quarter's last month. For 3Q 2026 it was released on 1 October, using data up to mid-September, and the full figures followed on 23 October. Both showed a 1.4% rise, but URA warns that flash estimates can differ from actual changes.
Does the index include executive condominiums?
Only ECs more than 10 years old, which are counted with non-landed properties. Newer ECs are excluded.
Why does URA use a hedonic method?
Homes sold in one quarter differ from those sold in the next. The hedonic method controls for attributes such as age and unit size, so the index reflects price changes rather than a change in the mix of homes sold.
Related terms
Sources
Every figure on this page was checked against the official government sources above on 6 Nov 2026. See our editorial policy.
This is general information, not financial, legal or tax advice.