EXECUTIVE CONDOMINIUMS
As at the end of 2nd Quarter 2005, 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, 684 units had been
launched for sale, of which 382 units had been sold.
The total stock of completed EC units increased to 9,527 units as at
the end of 2nd Quarter 2005, with the addition of 274 new EC units
completed in the quarter from The Esparis at Pasir Ris Drive 4.
As at the end of 2nd Quarter 2005, the vacancy rate was 6.2%,
compared with the vacancy rate of 5.2% as at the end of the previous
quarter.
OFFICE SPACE
Prices of office space rose 0.5% in the 2nd Quarter 2005, compared
with the 1.0% increase in the previous quarter (see Annex A-1).
Rentals rose 1.0% in the 2nd Quarter 2005, compared with the 2.2%
increase in the previous quarter (see Annex A-2).
Office space #1 under construction decreased by 2.1% to 327,000 sq m
(gross) as at the end of 2nd Quarter 2005 (see Annex C).
The stock of completed office space (with TOP) decreased by 22,000
sq m to 6.451 million sq m (nett) as at the end of 2nd Quarter 2005,
while the amount of occupied office space increased by 29,000 sq m
to 5.530 million sq m(nett) in the same period.
Consequently, the vacancy rate of office space decreased by 0.7
percentage point to 14.3% as at the end of 2nd Quarter 2005.
SHOP SPACE
Prices of shop space rose 0.8% in the 2nd Quarter 2005, compared
with the 1.0% increase in the previous quarter (see Annex A-1).
Rentals rose 0.5%, compared with the 1.7% increase in the previous
quarter (see Annex A-2).
Shop space under construction increased by 13.4% to 254,000 sq m
(gross) as at the end of 2nd Quarter 2005 (see Annex C).
The stock of completed shop space (with TOP) increased by 7,000 sq m
to 3.143 million sq m (nett) as at the end of 2nd Quarter 2005,
while the amount of occupied shop space increased by 21,000 sq m to
2.881 million sq m(nett) in the same period.
Consequently, the vacancy rate of shop space decreased by 0.5
percentage point to 8.3% as at the end of 2nd Quarter 2005.
INDUSTRIAL SPACE
Prices of multiple-user factory space rose 0.4% in the 2nd Quarter
2005, compared with 0.5% increase in the previous quarter (see Annex
A-1). Rentals of multiple-user factory space rose 0.3%,
compared with the 1.1% increase in the previous quarter (see Annex
A-2).
Factory space under construction increased by 0.5% to 1.292 million
sq m (gross) in the 2nd Quarter 2005 (see Annex C).
The stock of completed factory space (with TOP) increased by 54,000
sq m to 26.838 million sq m (nett) as at the end of 2nd Quarter
2005, while the amount of occupied factory space increased by
175,000 sq m to 23.837 million sq m(nett) in the same period.
Consequently, the vacancy rate of factory space decreased by 0.5
percentage point to 11.2% as at the end of 2nd Quarter 2005.
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 2nd Quarter 2005 issue of URA¡¯s Property Market
Information Publications on Private Residential Properties,
Commercial & Industrial Properties and Details of Projects Under
Development.
Interested readers can purchase and download the digital copies of
the publications at $60 (inclusive of GST) any time through Internet
at the URA web site http://www.ura.gov.sg (go to ¡°Property Market
Data¡± ==> ¡°Buy Digital Publications Online¡±).
Subscribers of REALIS can obtain the information from the system
after 12.30 pm today. More information on REALIS can be found
in http://www.ura.gov.sg.
(go to ¡°Property Market Data¡± ==> ¡°REALIS¡±)
#1 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.
Previous FrontPage Edition 27 Jul
2005
