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     3rd Quarter 2006 real estate statistics

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EXECUTIVE CONDOMINIUMS

 

As at the end of 3rd Quarter 2006, there were 903 units of Executive Condominiums (EC) in the pipeline, all of which were under construction (see Annex C).  All the 903 units had been issued with sale licences and building plan approvals (i.e. pre-requisites for sale).  As at the end of the quarter, 811 units had been launched for sale, of which 688 units had been sold.



The total stock of completed EC units remained at 9,527 units as at the end of 3rd Quarter 2006, as no new EC units were completed in the quarter.  As at the end of 3rd Quarter 2006, the vacancy rate was 0.3%, compared with the vacancy rate of 0.4% as at the end of the previous quarter.



OFFICE SPACE

 

Prices of office space rose 3.5% in the 3rd Quarter 2006, the same rate as in  the previous quarter (see Annex A-1). Rentals rose 7.0% in the 3rd Quarter 2006, compared with the 6.6% increase in the previous quarter (see Annex A-2).



Office space* under construction increased by 0.4% to 237,000 sq m (gross) as at the end of 3rd Quarter 2006 (see Annex C).



The stock of completed office space (with TOP) decreased by 25,000 sq m to 6.485 million sq m (nett) as at the end of 3rd Quarter 2006, while the amount of occupied office space increased by 97,000 sq m to 5.807 million sq m (nett) in the same period.



Consequently, the vacancy rate of office space fell by 1.8 percentage points to 10.5% as at the end of 3rd Quarter 2006.



SHOP SPACE



Prices of shop space rose 2.5% in the 3rd Quarter 2006, compared with the 1.4% increase in the previous quarter (see Annex A-1).  Rentals rose 1.2%, compared with the 1.4% increase in the previous quarter (see Annex A-2).



Shop space under construction decreased by 4.9% to 331,000 sq m (gross) as at the end of 3rd Quarter 2006 (see Annex C).



The stock of completed shop space (with TOP) increased by 76,000 sq m to 3.214 million sq m (nett) as at the end of 3rd Quarter 2006, while the amount of occupied shop space increased by 2,000 sq m to 2.901 million sq m (nett) in the same period.



Consequently, the vacancy rate of shop space increased by 2.1 percentage points to 9.7% as at the end of 3rd Quarter 2006.

 

INDUSTRIAL SPACE



Prices of multiple-user factory space rose 1.1% in the 3rd Quarter 2006, compared with the 1.0% increase in the previous quarter (see Annex A-1).  Rentals of multiple-user factory space remained unchanged, compared with the 0.3% increase in the previous quarter (see Annex A-2).



Factory space under construction increased by 3.6% to 1.965 million sq m (gross) in the 3rd Quarter 2006 (see Annex C).  



The stock of completed factory space (with TOP) decreased by 27,000 sq m to 27.174 million sq m (nett) as at the end of 3rd Quarter 2006, while the amount of occupied factory space increased by 87,000 sq m to 24.637 million sq m (nett) in the same period.


Consequently, the vacancy rate of factory space decreased by 0.4 percentage point to 9.3% as at the end of 3rd Quarter 2006.

 

URA¨s REAL ESTATE INFORMATION SERVICE



More detailed information on the price and rental indices, supply in the pipeline, stock and vacancy position of the various properties can be found in the Real Estate Information System (REALIS), an online database of URA.


Subscribers of REALIS can obtain the information from the system after 12.30 pm today.  More information on REALIS can be found at http://spring.ura.gov.sg/lad/ore/login/index.cfm.  You can also contact the REALIS hotline at 6329 3456.

 

*The supply of office, shop and factory space under construction is given in gross floor area as the developments have yet to be completed and hence the nett floor area is not available.

 

 

Source: www.ura.gov.sg Media Release 27 Oct 2006