Saturday 26 April 2014

Release of 1st Quarter 2014 private real estate statistics

PRIVATE RESIDENTIAL PROPERTIES

Prices and Rentals
Prices of private residential properties decreased by 1.3% in 1st Quarter 2014, following the 0.9% decline in the previous quarter. 
Price decline was observed across all segments of the private residential property market. Prices of non-landed properties in the Core Central Region (CCR) declined by 1.1%, following the 2.1% decrease in the previous quarter. In Outside Central Region (OCR), prices declined by 0.1%, following the 1.0% decline in the previous quarter. Prices in the Rest of Central Region (RCR) declined 3.3%, after registering a marginal 0.4% increase in the previous quarter (see Annexes A-1, A-2 & A-62). Prices of landed properties declined 0.7%, following a decrease of 1.0% in the previous quarter. 
Rentals of private residential properties decreased by 0.7% in 1st Quarter 2014, greater than the 0.5% decline in 4th Quarter 2013 (see Annexes A-3 & A-4).
Launches and Take-up
Developers launched 1,964 uncompleted private residential units (excluding ECs) for sale in 1st Quarter 2014, fewer than the 2,631 units in 4th Quarter 2013 (see Annex C-1).
Developers sold 1,744 private residential units (excluding ECs) in 1st Quarter 2014, fewer than the 2,568 units sold in 4th Quarter 2013 (see Annex D).
No new EC units were launched for sale in 1st Quarter 2014 (see Annex F). Developers sold 149 EC units in 1st Quarter 2014, fewer than the 691 units sold in 4th Quarter 2013. 
Resales and Sub-sales
The volume of resale transactions decreased from 1,206 units in 4th Quarter 2013 to 899 units in 1st Quarter 2014. Resale transactions accounted for 32.6% of all sale transactions in 1st Quarter 2014, compared to 30.5% in 4th Quarter 2013 (see Annex D).
The volume of sub-sale transactions decreased from 174 units in 4th Quarter 2013 to 111 units in 1st Quarter 2014. Sub-sale transactions accounted for 4.0% of all sale transactions in 1st Quarter 2014, lower than the 4.4% recorded in 4th Quarter 2013 (see Annex D).
Fore more info:

Source: URA (25 Apr 2014)