Tag Archives: Market Report

Home sales pace subsides

Posted on 25 Oct 2009 | Comments Off on Home sales pace subsides

For the first time in months, supply outstrips demand but supply glut is unlikely
The stock of available homes for sale is beginning to outstrip demand for the first time in months. — ST PHOTO: ALPHONSUS CHERN

A quiet period is always a good time for taking stock – and the rare breather in the housing market right now is allowing buyers to size up the state of home supply.

As the feverish pace of new home sales begins to subside following price hikes and the Government’s efforts to cool the market, the stock of available homes for sale is beginning to outstrip demand for the first time in months.

Last month, developers sold fewer units than they launched, only the second time they had done so since the property market started picking up in February this year.

The last time this happened was in July. Even then, however, the take-up rate was still almost one for one, at 96 per cent. Continue reading →

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URA’s private home price index up 15.8% in Q3

Posted on 24 Oct 2009 | Comments Off on URA’s private home price index up 15.8% in Q3

The official private home price index rose 15.8 per cent in third quarter 2009 over the preceding quarter, according to latest data released by Singapore’s Urban Redevelopment Authority on Friday.

 Click here for URA’s news release

URA’s price indices for office, shop and industrial properties decreased by 2.1 per cent, 1.2 per cent and 2.1 per cent respectively over the same period.

The planning authority’s Q3 2009 data also showed that rental indices of private residential, office, shop and industrial properties eased 2.2 per cent, 4.1 per cent, 0.9 per cent and 3.1 per cent respectively in Q3 over Q2 this year.

‘The rates of fall of rentals for all property types in Q3 2009 have moderated compared with the respective rates of fall in the Q2 2009,’ URA said in its release.

URA also provided a breakdown of prices of private homes. Its indices for non-landed private homes in the Core Central Region jumped 15.2 per cent in Q3 over Q2, while the price indices for Rest of Central Region and Outside Central Region rose 18.5 per cent and 16.1 per cent respectively.

In the landed housing segment, the price indices for detached, semi-detached and terrace houses increased by 15.6 per cent, 13.4 per cent and 15.1 per cent respectively quarter on quarter in Q3.

Source : Business Times – 23 Oct 2009

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