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     FrontPage Edition: Mon 11 June 2007

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1st Quarter 2007 Real Estate Statistics

Source: www.ura.gov.sg

Release of 1st Quarter 2007 Real Estate Statistics

The Urban Redevelopment Authority (URA) released today the real estate statistics for the 1st Quarter 2007.
PRIVATE RESIDENTIAL PROPERTIES
Prices and Rentals
Overall prices of private residential properties rose 4.8% in the 1st Quarter 2007, compared with the 3.8% increase in the previous quarter (see Annexes A-1 and B-1 & B-2).
Prices of non-landed properties rose 5.3% in the 1st Quarter 2007, compared with the 4.3% increase in the previous quarter. Prices of apartments rose 5.1% while those of condominiums rose 5.4%.
Prices of non-landed properties in CCR rose 5.5% in the 1st Quarter 2007. Prices of non-landed properties in RCR and OCR rose 3.7% and 2.0% respectively (see Annex A-2).
Within CCR, prices of uncompleted non-landed properties rose 7.3% in the 1st Quarter 2007, compared to 3.1% for completed properties (see Annex A-2).
Prices of landed properties rose 2.9% in the 1st Quarter 2007, compared with the 2.4% increase in the previous quarter. Prices of detached, semi-detached and terrace houses rose 4.0%, 1.8% and 2.1% respectively.
Rentals of private residential properties rose 7.6% in the 1st Quarter 2007, compared with the 5.3% increase in the previous quarter (see Annex A-3).
Supply in the Pipeline
As at the end of 1st Quarter 2007, there were 32,746 uncompleted private residential units that have not been sold in projects with planning approvals#1, about 0.6% higher than the 32,543 units as at the end of the previous quarter.
Of these, 10,736 units were in projects which have the pre-requisite conditions for sale (i.e. sale license and building plan approval), comprising 2,168 units that had been launched for sale by developers and 8,568 units that can be launched for sale any time.
The remaining 22,010 uncompleted units with planning approvals did not yet have the pre-requisite conditions for sale. However, these units could be made available for sale quite soon, if the developers choose to do so#2.
There were also 567 completed but unsold units as at the end of 1st Quarter 2007. Details of the supply in the pipeline in the 3 locations are given in Annex C-2.
Launches and Take-up
A total of 4,259 uncompleted private residential units were launched for sale by developers in the 1st Quarter 2007, compared with the 3,696 units launched in the 4th Quarter 2006.
Of the 4,259 uncompleted units launched in the quarter, 2,259 units were in CCR, 923 units were in RCR, and 1,077 units were in OCR (see Annex D-1). Major residential projects launched in the quarter included One-North Residences (405 units), One Shenton (341 units) and Sky@eleven (273 units).
During the 1st Quarter 2007, 4,565 uncompleted private residential units were sold by developers, compared with the 4,162 units sold in the 4th Quarter 2006.
Of the 4,565 uncompleted units sold in the quarter, 2,055 units were in CCR, 1,294 units were in RCR, and 1,216 units were in OCR (see Annex D-2). Developers also sold 218 completed private residential units in the 1st Quarter 2007.
More.....

Source: www.ura.gov.sg News Release 27 Apr 2007

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