Tag Archives: Singapore Property Prices

Release of 3rd quarter 2009 real estate statistics

Posted on 24 Oct 2009 | Comments Off on Release of 3rd quarter 2009 real estate statistics

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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Private home prices up 15.8% in Q3; HDB resale prices up 3.6%

Posted on 24 Oct 2009 | Comments Off on Private home prices up 15.8% in Q3; HDB resale prices up 3.6%

Private home prices rose 15.8 per cent in the third quarter compared to the second quarter – slightly lower than the initial forecast of a 15.9-per-cent rise made by the Urban and Redevelopment Authority (URA) in early October.

The rise in prices between July and September is a sharp turnaround from the 4.7-per-cent fall seen in the second quarter, and snaps four straight quarters of decline.

According to the URA, non-landed private homes in the city fringe areas saw the highest increase in prices of 18.5 per cent in the third quarter, while the prime districts saw private home prices rising 15.2 per cent. In the rest of Singapore, private home prices climbed 16.1 per cent.

In the second quarter, all three regions had seen a decline in private home prices of between 2 and 5 per cent.

Meanwhile, property prices for office, shop and industrial properties decreased by between 1.2 and 2.1 per cent.

Rentals of private residential, office, shop and industrial properties also fell, with the decline ranging from 0.9 to 4.1 per cent.

URA said that the fall of rental rates for all property types in the third quarter moderated compared to the second quarter.

Meanwhile, prices of HDB resale flats rose 3.6 per cent in the third quarter. Resale transactions increased by about 14 per cent from the second quarter to 11,649 cases.

The Housing & Development Board (HDB) said the median Cash-Over-Valuation (COV) amount among all resale transactions has risen to S$12,000. It said in tandem with this trend, cases transacting above valuation has also increased to 79 per cent.

HDB said that in the next two months, the public can look forward to another 4,000 Build-to-Order flats in Punggol, Bukit Panjang, Sembawang and Dawson.

Together with other sale exercises, as well as flats offered under the Design, Build and Sell Scheme, the total flat supply for 2009 would be about 13,500 units.

HDB said it is monitoring demand and would adjust its building plan accordingly to ensure an adequate supply of new flats.

Source : Channel NewsAsia – 23 Oct 2009

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