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2nd Quarter 2005 Real Estate Statistics

Source: www.ura.gov.sg

URA RELEASES THE 2nd QUARTER 2005 REAL ESTATE INFORMATION

The Urban Redevelopment Authority (URA) releases today (22 Jul 2005) the real estate statistics for the 2nd Quarter 2005.
HIGHLIGHTS OF 2nd QUARTER 2005 STATISTICS
PRIVATE RESIDENTIAL UNITS
Prices
Prices of residential properties rose 0.5% in the 2nd Quarter 2005, compared with the 0.7% increase in the previous quarter (see Annexes A-1 and B-1 & B-2).
Prices of landed properties rose 0.2% in the 2nd Quarter 2005, compared with the 0.4% increase in the previous quarter. Prices of detached and semi-detached houses rose 0.3% and 0.2% respectively while those of terrace houses remained unchanged.
Prices of non-landed properties rose 0.7% in the 2nd Quarter 2005, the same rate of increase as in the previous quarter. Prices of apartments rose 0.8% while those of condominiums rose 0.6%.
Rentals of private residential properties rose 0.6% in the 2nd Quarter 2005, compared with the 1.0% increase in the previous quarter (see Annex A-2).
Supply And Demand
As at the end of 2nd Quarter 2005, the number of private residential units under construction was 24,487, about 3.4% higher than that as at the end of the previous quarter (see Annex C).
Of these, 20,851 units had the pre-requisite conditions for sale (i.e. with sale licences and building plan approvals). There were another 2,791 units from projects where construction had not commenced but with the pre-requisite conditions for sale. Hence there was a total of 23,642 units with the pre-requisite conditions for sale, which was 5.4% lower than the 24,982 units as at the end of 1st Quarter 2005.
Of the 23,642 uncompleted units with the pre-requisite conditions for sale, 11,243 units had been sold. The remaining 12,399 units which had yet to be sold comprised 4,519 units which had been launched for sale, and 7,880 units which had not been launched yet (see Annex D-1). There were also 1,688 completed but unsold units as at the end of 2nd Quarter 2005.
A total of 2,952 uncompleted private residential units were launched for sale in the 2nd Quarter 2005, compared with the 1,366 units launched in the 1st Quarter 2005 (see Annex D-2).
Major residential projects launched in the quarter included City Square Residences (799 units from a total of 910 units) at Kitchener Link, Rivergate (368 units from a total of 545 units) at Robertson Quay, The Calrose (248 units from a total of 421 units) at Yio Chu Kang Road and The Sea View (150 units from a total of 546 units) at Amber Road.
During the 2nd Quarter 2005, 2,556 uncompleted private residential units were sold by developers, compared with the 1,090 units sold in the 1st Quarter 2005. Developers also sold 224 completed private residential units in the 2nd Quarter 2005.
A total of 2,099 private residential units were completed (granted TOP) in the 2nd Quarter 2005. Major residential projects completed in the quarter were Lakeholmz (369 units) at Corporation Road, and Hillview Regency (284 units of a total of 572 units) at Bukit Batok East Avenue 2.
The vacancy rate of completed private residential units was 8.7% as at the end of 2nd Quarter 2005, compared with 8.8% as at the end of the previous quarter.
More.....

Annexes A1, A2, B1, B2, C, D1, & D2

Source: www.ura.gov.sg Press Release 22 Jul 2005

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Wednesday

27 July 2005