The prices for private residential properties decreased by 0.4 per cent in the second quarter of this year, compared to the 0.7 per cent decline in the previous quarter, according to figures released by the Urban Redevelopment Authority (URA) on Friday (Jul 22).
The prices of landed properties declined by 1.5 per cent, compared to the 1.1 per cent decline in the previous quarter, while non-landed property prices dipped 0.1 per cent compared to the previous quarter’s 0.6 per cent, it said.
Rental prices for these properties also dropped 0.6 per cent in the second quarter, the figures showed.
Developers had launched 2,371 uncompleted private residential units, excluding Executive Condominiums, for sale in the second quarter, compared to 953 units in the previous quarter.
Supply aside, demand also picked up as developers sold 2,256 private residential units, excluding ECs, compared to the 1,419 units sold previously, URA said.
As for ECs, developers launched 1,260 units for sale in the same quarter, and sold 1,105 units. This was an increase from the 534 units launched and 762 units sold in the previous quarter, according to the figures.
Source : Channel NewsAsia – 22 Jul 2016
Singapore office space prices fell by 1.5 per cent in the second quarter. Rentals of office space also fell by 3.5 per cent in this quarter, compared to the 2.1 per cent dip in the first quarter of the year, URA figures showed.
Meanwhile, prices for retail space fell by 3.1 per cent in the second quarter, following a 1.9 per cent dip in the previous quarter. Rentals of retail space also fell by 3.9 per cent in the second quarter, compared to the 1.9 per cent drop in the first quarter, it added.
In terms of the amount of retail space available, URA said the island-wide vacancy rate rose to 7.8 per cent at the end of the second quarter, from 7.3 per cent at the end of the previous quarter.
Source : Channel NewsAsia – 22 Jul 2016
Private home prices in Singapore continued their decline in the second quarter of this year, according to flash estimates released by the Urban Redevelopment Authority (URA) on Friday (Jul 1).
The private residential property index fell to 140.0 points in the second quarter, from 140.6 points in the previous quarter. This represented a decline of 0.4 per cent, compared with the 0.7 per cent decline in the previous quarter.
Prices of non-landed private residential properties rose by 0.2 per cent in Core Central Region (CCR), compared to the 0.3 per cent increase in the previous quarter. In the Rest of Central Region (RCR), prices rose by 0.3 per cent, while prices in Outside Central Region (OCR) declined by 0.7 per cent, after registering a 1.3 per cent decline in the previous quarter.
The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and data on new units sold by developers up till mid-June. The statistics will be updated four weeks later when URA releases the full real estate statistics for the second quarter of 2016, which would capture more data from the stamp duty records and the take-up of new projects.
According to the URA, past data have shown that the difference between the quarterly price changes indicated by the flash estimate, and the actual price changes, could be “significant” when the change is small. The URA advised the public to “interpret the flash estimates with caution”.
Source : Channel NewsAsia – 1 Jul 2016
Resale prices of flats is up 0.1 per cent in the second quarter of the year compared to the previous quarter, according to flash estimates from the Housing and Development Board (HDB) released on Friday (Jul 1).
The decline comes after the Resale Price Index (RPI) for the first quarter dipped 0.1 per cent from the previous quarter.
The RPI for the second quarter of 2016 came in at 134.8, down marginally from the previous quarter’s 134.7, the HDB said. The index provides information on the general price movements in the resale public housing market.
The HDB plans to launch about 5,000 Build-To-Order (BTO) flats in August in Hougang, Sembawang, Tampines and Yishun.
Source : Channel NewsAsia – 1 Jul 2016
Rental prices for Housing and Development Board (HDB) flats remained flat in May, while those for non-landed private properties decreased by 0.6 per cent compared to April 2016, according to flash estimates by SRX Property.
Rental volume increased by 5.8 per cent, with about 4,400 units rented in May – up from 4,158 the previous month.
Year-on-year, rental prices for private apartments were down 5.2 per cent. Private apartments in the city fringes saw the biggest drop in rent at 8.1 per cent, while those in the Core Central Region and Outside Central Region saw decreases of 1.5 per cent and 6.5 per cent, respectively.
HDB RENTAL VOLUME UP
For the month of May, rents for HDB three-room flats remained the same. HDB four-room flats posted a 0.4 per cent increase in rents, while HDB 5 Rooms and Executive rents posted a 0.1% and 1.5% decrease, respectively.
Rental volume for HDB flats saw a 1.5 per cent increase in May. About 2,005 HDB flats were rented, compared to 1,975 units in April.
Year-on-year, HDB rents in May were down by 3.8 per cent, and were down 9.7 per cent compared to its peak in August 2013, according to data from SRX Property.
Source : Channel NewsAsia – 15 Jun 2016
The resale prices for non-landed private residential flats inched up in May, with resale volume also increasing, according to estimates released by SRX Property on Thursday (Jun 9).
On a month-on-month basis, resale prices were up 0.4 per cent last month. Compared to a year ago, prices increased by 0.2 per cent.
In individual sectors, the Core Central Region and Rest of Central Region posted a year-on-year price increase of 4.7 per cent and 0.6 per cent respectively, while the Outside Central Region recorded a year-on-year price decrease of 2.0 per cent.
An estimated 840 non-landed private residential units were resold in May, which is an increase of 35.7 per cent compared to the 619 units resold last month.
The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, fell to -S$8,000, compared to a S$1,000 increase in April.
For districts with more than 10 resale transactions in May 2016, District 11 (Watten Estate, Novena, Thomson) posted the highest median TOX at S$16,000. The lowest median TOX was at District 17 (Changi, Loyang), which posted a TOX of -S$36,000.
Source : Channel NewsAsia – 14 Jun 2016
The resale prices of Housing and Development Board (HDB) flats inched up in May, but resale volume remained flat, according to estimates released by SRX Property on Thursday (Jun 9).
On a month-on-month basis, HDB resale prices were up 0.2 per cent last month. Compared to a year ago, prices remained flat.
Resale prices of three-room and five-room flats rose by 0.7 per cent, while prices of executive flats increased by 0.4 per cent. In contrast, the resale prices of four-room flats decreased by 0.7 per cent.
A total of 1,826 resale flats were sold in May, similar to the 1,828 units transacted in April. However, compared to a year ago, resale volume was up 15.9 per cent.
The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, fell to -S$1,000, compared to zero in April.
For HDB towns with more than 10 resale transactions, Sembawang posted the highest median TOX of S$6,000, followed by Geylang with S$3,500. The lowest median TOX were in Hougang at -S$12,000, followed by Ang Mo Kio at -S$7,500.
Source : Channel NewsAsia – 9 Jun 2016
Resale prices of private homes rose in April, according to flash estimates from the Singapore Residential Price Index (SRPI) released on Monday (May 30).
The SRPI, compiled by the National University of Singapore’s Institute of Real Estate Studies, showed overall prices rose 0.3 per cent in April from the previous month. It had slid 1.1 per cent month-on-month in March.
Prices of homes in the central region, excluding small units went up 0.4 per cent from the previous month. In the non-central region, prices of homes, excluding small units, rose 0.2 per cent.
Prices of small units, which have a floor area of 506sqf or below, inched up 0.2 per cent in April compared to the previous month.
Source : Channel NewsAsia – 30 May 2016