|
 |
|
Source:
www.ura.gov.sg
|
|
Release of 1st quarter 2008 real estate
statistics |
|
|
|
|
The Urban Redevelopment Authority (URA)
released today (25 Apr 2008) the real estate statistics for the 1st
Quarter 2008. |
|
SUMMARY |
|
Prices of private residential, office, shop
and industrial properties increased by 3.7%, 1.1%, 2.6% and 3.4%
respectively in the 1st Quarter 2008. |
|
Rentals of private residential, office, shop
and industrial properties increased by 6.0%, 7.3%, 1.0% and 5.7%
respectively in the 1st Quarter 2008. |
|
The rates of increase in prices for all
properties and the rates of increase in rentals for private residential,
office and industrial properties have moderated in the 1st Quarter 2008
as compared to 4th Quarter 2007. |
|
The latest figures also provided an update
on the supply in the pipeline to meet demand over the next few years.
For example, as at 1st Quarter 2008, there were 67,736 private
residential units in the pipeline, comprising supply from projects that
are already under construction and those that have been granted planning
approval but are not under construction yet. |
|
For the office sector, there was a supply of
about 1.49 million sq m Gross Floor Area (GFA) of office space from
various Government and private land sources in the pipeline. Of these,
56,501 private residential units and 1.11 million sq m GFA of office
space are expected to be completed between 2nd Quarter 2008 and 2011. |
|
PRIVATE RESIDENTIAL PROPERTIES |
|
Prices |
|
Overall prices of private residential
properties rose 3.7% in the 1st Quarter 2008, compared with the 6.8%
increase in the previous quarter (see Annexes A-1, A-6 & A-7). |
|
Prices of non-landed properties rose 3.7% in
the 1st Quarter 2008, compared with the 7.2% increase in the previous
quarter. Prices of apartments rose 3.6% while those of condominiums rose
3.7%. |
|
Prices of non-landed properties in Core
Central Region[1] (CCR) rose 3.8% in the 1st Quarter 2008, while prices of
non-landed properties in Rest of Central Region[2] (RCR) and Outside
Central Region (OCR) rose by 3.3% and 3.8% respectively (see Annex A-2). |
|
Prices of landed properties rose 3.9% in the
1st Quarter 2008, compared with the 4.2% increase in the previous
quarter. Prices of detached, semi-detached and terrace houses rose 3.5%,
4.7% and 4.0% respectively in the 1st Quarter 2008. |
|
The prices of private residential properties
are not uniform and vary from project to project. Home-buyers can view
the data on individual uncompleted private residential projects at the
following url:
http://www.ura.gov.sg/. From the database, it can be seen that
there are a number of uncompleted private residential projects in the
suburban areas with prices at a more affordable level. The database also
provides information on projects with units still available for sale. |
|
Besides the data on the sale of uncompleted
units direct from developers, home-buyers can also access information on
all private residential property transactions on URA’s website at the
following url:
http://www.ura.gov.sg/. This database, which is based on
caveats lodged with the Singapore Land Authority (SLA), contains
comprehensive information on the prices and floor areas of the units. |
|
Rentals |
|
Rentals of private residential properties[3]
rose 6.0% in the 1st Quarter 2008, compared with the 6.8% increase in
the previous quarter (see Annex A-3). |
|
Rentals of non-landed properties in CCR rose
4.8% in the 1st Quarter 2008. Rentals of non-landed properties in RCR
and OCR rose 6.7% and 8.4% respectively (see Annexes A-3 & A-4). |
|
In addition, URA also released data on the
25th percentile, median and 75th percentile rentals for individual
private residential projects for 1st Quarter 2008[4]. These data would
help the public make better informed decisions on the renting of private
housing. The data on the rentals of individual private residential
projects are available on URA’s website at the following url:
http://www.ura.gov.sg/. |
|
More..... |
|
Source:
www.ura.gov.sg News Release 25
Apr 2008 |
|
 |
|
Important
Notice |
|
Our FrontPage
Editions are a historical record of our Web site and reflect
the changing of the times, and also of our Web site through
time. We do not and will not update the links and stories on
these FrontPages even if they have become obsolete. |
|
FrontPage Edition: Sat 26 April 2008
All rights reserved
