Release of 3rd quarter 2009 real estate statistics
The Urban Redevelopment Authority (URA) released today the real estate statistics for the 3rd Quarter 2009.
Summary of Key Information for 3rd Quarter 2009
| Annex | Title |
| Annex A-1 | Comparison of Property Price Index for 2nd Quarter 2009 and 3rd Quarter 2009 |
| Annex A-2 | Price Indices of Non-Landed Properties by Locality and Completion Status |
| Annex A-3 | Comparison of Rental Index for 2nd Quarter 2009 and 3rd Quarter 2009 |
| Annex A-4 | Rental Indices of Non-Landed Properties by Locality |
| Annex A-5 | Median Rentals and Vacancy of Office and Shop Space |
| Annex A-6 | Chart of Property Price Index by Type of Property |
| Annex A-7 | Chart of Residential Property Price Index by Type |
| Annex B-1 | Number of Unsold Private Residential Units from Projects with Planning Approvals |
| Annex B-2 | Number of Unsold Private Residential Units from Projects with Planning Approvals by Market Segment |
| Annex C-1 | Number of Uncompleted Private Residential Units Launched in the Quarter by Market Segment |
| Annex C-2 | Number of Private Residential Units Sold in the Quarter by Market Segment |
| Annex D | Number of New Sale, Sub-Sale and Resale Transactions for Private Residential Units by Market Segment |
| Annex E-1 | Stock & Vacancy and Supply in the Pipeline as at End of 3rd Quarter 2009 |
| Annex E-2 | Supply in the Pipeline by Development Status and Expected Year of Completion as at End of 3rd Quarter 2009 |
| Annex F-1 | Number of Executive Condominium Units Launched and Sold in the Quarter |
| Annex F-2 | Sale Position of Executive Condominium Units with Pre-Requisites for Sale as at End of Quarter |
SUMMARY
Prices of private residential properties increased by 15.8%, while those of office, shop and industrial properties decreased by 2.1%, 1.2% and 2.1% respectively in the 3rd Quarter 2009.
Rentals of private residential, office, shop and industrial properties decreased by 2.2%, 4.1%, 0.9% and 3.1% respectively in the 3rd Quarter 2009. The rates of fall of rentals for all property types in the 3rd Quarter 2009 have moderated compared with the respective rates of fall in the 2nd Quarter 2009.
As at 3rd Quarter 2009, there were 59,728 private residential units in the pipeline, comprising supply from projects that were already under construction and those that had been granted planning approval but were not under construction yet. For the office sector, there was a pipeline supply of about 1.09 million sq m Gross Floor Area (GFA) of office space from various Government and private land sources. Of these, about 32,200 private residential units and about 933,000 sq m GFA of office space were expected to be completed between 4th Quarter 2009 and 2012. This is based on developers’ declarations and the actual completion schedule may change from quarter to quarter as developers adjust their development plans or construction schedule according to market conditions. Continue reading
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