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Source:
www.ura.gov.sg |
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URA RELEASES THE 1st QUARTER 2005
REAL ESTATE INFORMATION |
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The Urban Redevelopment Authority (URA) releases
today (22 Apr 2005) the real estate statistics for the 1st Quarter 2005. |
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HIGHLIGHTS OF 1st QUARTER 2005 STATISTICS |
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PRIVATE RESIDENTIAL UNITS |
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Prices |
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Prices of residential properties rose 0.7% in the
1st Quarter 2005, compared with the 0.8% increase in the previous quarter (see
Annexes A-1 and B). |
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Prices of landed properties rose 0.4% in the 1st
Quarter 2005, compared with the 0.3% increase in the previous quarter. Prices
of detached, semi-detached and terrace houses rose 0.4%, 0.9% and 0.2%
respectively. |
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Prices of non-landed properties rose 0.7% in the
1st Quarter 2005, compared with the 1.1% increase in the previous quarter.
Prices of apartments rose 0.2% while those of condominiums rose 0.9%. |
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Rentals of private residential properties rose
1.0% in the 1st Quarter 2005, compared with the 0.6% increase in the previous
quarter (see Annex A-2). |
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Supply And Demand |
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As at the end of 1st Quarter 2005, the number of
private residential units under construction was 23,672, about 12.8% higher
than that as at the end of the previous quarter (see Annex C). Of these,
20,724 units had the prerequisite conditions for sale (i.e. with sale licences
and building plan approvals). |
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There were another 4,258 units from projects where
construction had not commenced but with the pre-requisite conditions for sale.
Hence the total number of units with the pre-requisite conditions for sale was
24,982 units, which was 4.7% lower than the 26,202 units as at the end of 4th
Quarter 2004. |
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Of the 24,982 uncompleted units with the
pre-requisite conditions for sale, 10,116 units had been sold. The remaining
14,866 units which had yet to be sold comprised 4,510 units which had been
launched for sale, and 10,356 units which had not been launched yet (see Annex
D-1). There were also 1,418 completed but unsold units as at the end of 1st
Quarter 2005. |
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A total of 1,366 uncompleted private residential
units were launched for sale in the 1st Quarter 2005, 38.1% lower than the
2,208 units launched in the 4th Quarter 2004 (see Annex D-2). |
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Major residential projects launched in the quarter
included Citylights (333 units from a total of 600 units) at Jellicoe Road, 8
@ Mount Sophia (190 units from a total of 313 units) at Mount Sophia and Parc
Emily (160 units from a total of 295 units) at Mount Emily Road. |
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During the 1st Quarter 2005, 1,090 uncompleted
private residential units were sold by developers, 30.3% lower than the 1,563
units sold in the 4th Quarter 2004. Developers also sold 160 completed private
residential units in the 1st Quarter 2005. |
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A total of 1,882 private residential units were
completed (granted TOP) in the 1st Quarter 2005. Major residential projects
completed in the quarter were Blue Horizon (487 units of a total of 616 units)
at West Coast Crescent, and The Marbella (239 units) at Mount Sinai Rise. |
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The vacancy rate of completed private residential
units was 8.8% as at the end of 1st Quarter 2005, compared with 8.1% as at the
end of the previous quarter. |
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EXECUTIVE CONDOMINIUMS |
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As at the end of 1st Quarter 2005, there were 733
units of Executive Condominiums (EC) under construction (see Annex C). There
were another 444 units from projects where construction had not commenced. All
the 1,177 units had been issued with sale licences and building plan approvals
(i.e. pre-requisites for sale). As at the end of the quarter, 666 units had
been launched for sale, of which 483 units had been sold. |
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The total stock of completed EC units increased to
9,253 units as at the end of 1st Quarter 2005, with the addition of 397 new EC
units completed in the quarter from Whitewater at Pasir Ris Street 72. As at
the end of 1st Quarter 2005, the vacancy rate was 5.2%, compared to a vacancy
rate of 6.0% as at the end of the previous quarter. |
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OFFICE SPACE |
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Prices of office space rose 1.0% in the 1st
Quarter 2005, compared with the 0.7% increase in the previous quarter (see
Annex A-1). Rentals rose 2.2% in the 1st Quarter 2005, compared with the 0.8%
increase in the previous quarter (see Annex A-2). |
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Office space1 under construction increased by 3.7%
to 334,000 sq m (gross) as at the end of 1st Quarter 2005 (see Annex C). |
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The stock of completed office space (with TOP)
decreased by 20,000 sq m to 6.473 million sq m (nett) as at the end of 1st
Quarter 2005, while the amount of occupied office space increased by 47,000 sq
m to 5.501 million sq m(nett) in the same period. |
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Consequently, the vacancy rate of office space
decreased by 1.0 percentage point to 15.0% as at the end of 1st Quarter 2005. |
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SHOP SPACE |
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Prices of shop space rose 1.0% in the 1st Quarter
2005, compared with the 0.5% increase in the previous quarter (see Annex A-1).
Rentals rose 1.7%, compared with the 0.8% increase in the previous quarter
(see Annex A-2). |
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Shop space under construction increased by 6.7% to
224,000 sq m (gross) as at the end of 1st Quarter 2005 (see Annex C). |
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The stock of completed shop space (with TOP)
decreased by 3,000 sq m to 3.136 million sq m (nett) as at the end of 1st
Quarter 2005, while the amount of occupied shop space decreased by 20,000 sq m
to 2.860 million sq m(nett) in the same period mainly due to refurbishment
works. |
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Consequently, the vacancy rate of shop space
increased by 0.5 percentage point to 8.8% as at the end of 1st Quarter 2005. |
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More..... (Annexes A, B, C, D & E) |
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Source:
Urban Redevelopment Authority Press
Release 22 Apr 2005 |
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Related Articles: |
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2nd Quarter 2005 Real
Estate Statistics |
1st Quarter 2005 Real Estate Statistics
