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SG Q3 private home prices up 0.4%

Property Here - Friday, October 25, 2013

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Private home prices in Singapore rose by 0.4 percent in the third quarter this year, according to updated figures released on Friday by the Urban Redevelopment Authority (URA). This is still lower than the 1.0 percent increase seen in Q2.  

Specifically, prices of non-landed properties in the Core Central Region (CCR) are down by 0.3%, slightly more than the previous 0.2 percent drop.  

In the Rest of the Central Region (RCR), prices declined by 0.9 percent, a first for the region since Q1 2012.

On the other hand, prices in the Outside Central Region (OCR) grew by 2.2 percent compared to the 3.8 percent gain reported in Q2.

For new launches, developers released 3,313 housing units (excluding ECs) for sale in the quarter. This is lower than the 4,395 units launched previously. Of this, developers only managed to sell 2,430 units, a more than 50 percent decline from the 4,538 units sold in Q2.

Meanwhile, 1,387 new EC units were launched last quarter, 300 more than the 1,071 units launched in Q2. 1,240 ECs were sold in Q3, an almost 30 percent uptick from the 932 units taken up in the previous quarter.

 

Nikki De Guzman, Junior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg