Business
23 Jul 2021 10:13AM
SINGAPORE: Private home prices in Singapore rose 0.8 per cent in the second quarter, slightly below flash estimates released earlier in the month amid the COVID-19 heightened alert period.
The private residential property price index increased to 163.5 points in the second quarter of 2021, up from 162.2 points in the first quarter, according to real estate statistics released by the Urban Redevelopment Authority (URA) on Friday (Jul 23).
The increase was slower than the first quarter, when prices rose by 3.3 per cent .
Prices were held back by the landed properties segment, which fell 0.3 per cent in the second quarter after a 6.7 per cent increase in the previous quarter.
Prices of non-landed homes increased, albeit by a slower 1.1 per cent compared with the 2.5 per cent rise in the January to March period.
RESALE DEMAND
New private home sales also took a hit in the second quarter, with fewer developments launched.
Developers launched 2,356 uncompleted private homes (excluding executive condominiums) for sale in the second quarter, compared with 3,716 units between January and March. They sold 2,966 units in the second quarter, compared with the 3,493 in the previous quarter.
In the executive condominium segment, developers launched 413 homes in the second quarter, down from 700 the previous quarter. They sold 495 units, versus 647 in the January to March quarter.
Resale homes attracted more buyers in the second quarter. About 63.1 per cent of private property sales last quarter were resale homes, higher than the 55.8 per cent in the previous three months.
In all, there were 5,333 resale transactions in the second quarter, compared with 4,519 in the previous quarter.
RENTALS
Rentals saw stronger growth in the second quarter of the year, rising by 2.9 per cent and beating the previous quarter’s increase of 2.2 per cent.
This was driven by the non-landed segment, where rentals rose 3.1 per cent in the second quarter compared with 2.4 per cent in the first.
Rentals of landed homes also accelerated to 1.4 per cent from 0.6 per cent in the previous quarter.
SUPPLY IN THE PIPELINE
As of the end of the first quarter, there were 19,384 unsold and uncompleted private homes in the pipeline – compared with 21,602 in the quarter before.
Including executive condominiums, this goes up to 21,055, lower than the 23,735 in the previous quarter.
Source: CNA/aj(cy)
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Singapore's private home prices rise at slower pace of 0.8% in Q2 amid heightened alert
File photo of private homes in Singapore. (Photo: Jeremy Long)23 Jul 2021 10:13AM
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SINGAPORE: Private home prices in Singapore rose 0.8 per cent in the second quarter, slightly below flash estimates released earlier in the month amid the COVID-19 heightened alert period.
The private residential property price index increased to 163.5 points in the second quarter of 2021, up from 162.2 points in the first quarter, according to real estate statistics released by the Urban Redevelopment Authority (URA) on Friday (Jul 23).
The increase was slower than the first quarter, when prices rose by 3.3 per cent .
Prices were held back by the landed properties segment, which fell 0.3 per cent in the second quarter after a 6.7 per cent increase in the previous quarter.
Prices of non-landed homes increased, albeit by a slower 1.1 per cent compared with the 2.5 per cent rise in the January to March period.
READ: HDB resale prices rise for 5th straight quarter in Q2
RESALE DEMAND
New private home sales also took a hit in the second quarter, with fewer developments launched.
Developers launched 2,356 uncompleted private homes (excluding executive condominiums) for sale in the second quarter, compared with 3,716 units between January and March. They sold 2,966 units in the second quarter, compared with the 3,493 in the previous quarter.
In the executive condominium segment, developers launched 413 homes in the second quarter, down from 700 the previous quarter. They sold 495 units, versus 647 in the January to March quarter.
Resale homes attracted more buyers in the second quarter. About 63.1 per cent of private property sales last quarter were resale homes, higher than the 55.8 per cent in the previous three months.
In all, there were 5,333 resale transactions in the second quarter, compared with 4,519 in the previous quarter.
RENTALS
Rentals saw stronger growth in the second quarter of the year, rising by 2.9 per cent and beating the previous quarter’s increase of 2.2 per cent.
This was driven by the non-landed segment, where rentals rose 3.1 per cent in the second quarter compared with 2.4 per cent in the first.
Rentals of landed homes also accelerated to 1.4 per cent from 0.6 per cent in the previous quarter.
SUPPLY IN THE PIPELINE
As of the end of the first quarter, there were 19,384 unsold and uncompleted private homes in the pipeline – compared with 21,602 in the quarter before.
Including executive condominiums, this goes up to 21,055, lower than the 23,735 in the previous quarter.
Source: CNA/aj(cy)
Continue reading...