Private Residential Property | Lush Dream Home

Tag Archives: Private Residential Property

Private property prices continue to drop in Q3

Posted on 2 Oct 2014 | Comments Off

The private residential property index fell 1.3 points from 209.4 points in Q2 2014 to 208.1 points in Q3 2014, according to URA flash estimates released today.

This represents a decline of 0.6 percent, compared to the one percent decline in the previous quarter. This is the fourth continuous quarter of price decrease.

The Core Central Region (CCR) was the hardest hit as prices fell 0.9 percent, while prices in Outside Central Region (OCR) fell 0.2 percent. In Rest of Central Region (RCR), prices fell 0.1 percent, compared to the 0.4% decline in the previous quarter.

Desmond Sim, Head of CBRE Research in Singapore said, “The price index has fallen for the last four consecutive quarters at a total magnitude of 3.8% since a year ago in Q3 2013.”

The flash estimates are compiled based on transaction prices given in caveats lodged during the first ten weeks of the quarter, supplemented by survey data on new units sold by developers in the quarter.

Sim said it probably did not include the units sold from Highline Residences and Seventy Saint Patrick’s.

“By the time these units are added in the computation, it is probable that the q-o-q fall in the URA price index for Q3 2014 might be less than 0.6%, in line with market expectations since the new projects launched in Q3 were mostly located in the Central Region,” he added.

Comments Off on Private property prices continue to drop in Q3

Posted in Property Market / Real Estate

Tagged Private property prices, Private Residential Property, residential property index

Private home prices in Singapore continue to fall in Q2: URA

Posted on 25 Jul 2014 | Comments Off

URBAN Redevelopment Authority’s official private home price index fell one per cent in the second quarter of this year compared with the first quarter.

This is a smaller drop than the 1.3 per cent decline in the previous quarter. It is also the third straight quarter of price decline.

Giving a geographical split of non-landed private home prices, URA said prices in Core Central Region (CCR) fell 1.5 per cent in Q2, a bigger drop than the 1.1 per cent decline in Q1.

CCR covers the Downtown Core planning area, Sentosa and the traditional districts 9, 10 and 11.

In the city-fringe, or Rest of Central Region, prices eased 0.4 per cent, a smaller decline compared with the 3.3 per cent drop in Q1.

In suburban locations, or the Outside Central Region, prices decreased 0.9 per cent in Q2. In the first quarter, they had dipped 0.1 per cent.

Prices of landed properties fell 1.7 per cent in Q2, higher than the 0.7 per cent decline in the previous quarter.

Rentals of private residential properties fell by 0.6 per cent in Q2 – compared with the 0.7 per cent decline in Q1.

Developers launched 2,843 uncompleted private residential units (excluding executive condominiums or ECs) for sale in Q2 compared to 1,964 units in Q1. They sold 2,665 private homes in Q2 excluding ECs – an increase from the 1,744 units they sold in the first three months of this year.

No new EC units were launched for sale in Q2, but developers sold 154 EC units in Q2, compared to the 149 units sold in Q1.

There were 1,314 resale transactions in the April-June quarter of this year, up from 941 transactions in the first three months.

There were 139 subsale transactions in Q2 compared to 128 transactions in Q1.