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Continued from
FrontPage of Article
Sub-sales
During the 1st Quarter
2007, there were 581 sub-sales island-wide, which represented 6.3%
of the total number of private housing transactions in the quarter.
The number of sub-sales in CCR in the 1st Quarter 2007 accounted for
10.4% of all the property sale transactions in this area in the
quarter, compared to 5.8% in RCR and 1.9% in OCR (see
Annex E).
Stock and
Vacancy
A total of 716 private
residential units were completed (granted TOP) in the 1st Quarter
2007. Major residential projects completed in the quarter were
VisionCrest at Oxley Rise (265 units) and Twin Regency at Kim Tian
Road (234 units).
The vacancy rate of completed private residential units was 5.1% as
at the end of 1st Quarter 2007, compared with 6.1% as at the end of
the previous quarter (see
Annex F).
Executive
Condominiums
As at the end of 1st
Quarter 2007, there were 444 units of Executive Condominiums (EC) in
the pipeline, all of which were under construction (see
Annex G-2). All the 444 units had been issued with sale
licenses and building plan approvals (i.e. pre-requisites for sale).
As at the end of the quarter, 398 units had been launched for sale,
of which 288 units had been sold.
The total stock of
completed EC units remained unchanged at 9,986 units as at the end
of 1st Quarter 2007. As at the end of 1st Quarter 2007, the vacancy
rate was 3.7%, compared with the vacancy rate of 5.0% as at the end
of the previous quarter.
OFFICE SPACE
Prices of office space
rose 4.3% in the 1st Quarter 2007, compared with the 7.7% increase
in the previous quarter (see
Annex A-1). Rentals rose 10.4% in the 1st Quarter 2007,
compared with the 11.6% increase in the previous quarter (see
Annex A-3).
URA¨s rental index is
compiled based on IRAS¨ records of all rental contracts in Singapore
which have to be submitted to IRAS for payment of stamp duty. Rental
contracts signed in advance of the lease period are excluded from
computation#3.
Office space#4
under construction increased by 6.7% to 367,000 sq m (gross) as at
the end of 1st Quarter 2007 (see
Annex F).
The stock of completed
office space (with TOP) increased by 6,000 sq m to 6.535 million sq
m (nett) as at the end of 1st Quarter 2007, while the amount of
occupied office space increased by 81,000 sq m to 5.940 million sq m
(nett) in the same period.
Consequently, the
vacancy rate of office space fell by 1.2 percentage points to 9.1%
as at the end of 1st Quarter 2007.
SHOP SPACE
Prices of shop space
rose 1.7% in the 1st Quarter 2007, compared with the 4.1% increase
in the previous quarter (see
Annex A-1). Rentals rose 1.4%, compared with the 0.9%
increase in the previous quarter (see
Annex A-3).
Shop space6 under
construction increased by 20.9% to 359,000 sq m (gross) as at the
end of 1st Quarter 2007 (see
Annex F).
The stock of completed
shop space (with TOP) decreased by 17,000 sq m to 3.235 million sq m
(nett) as at the end of 1st Quarter 2007, while the amount of
occupied shop space decreased by 12,000 sq m to 2.991 million sq m (nett)
in the same period.
Consequently, the
vacancy rate of shop space decreased by 0.2 percentage point to 7.5%
as at the end of 1st Quarter 2007.
INDUSTRIAL
SPACE
Prices of multiple-user
factory space rose 4.0% in the 1st Quarter 2007, the same rate of
increase as in the previous quarter (see
Annex A-1). Rentals of multiple-user factory space
increased by 4.6%, compared with the 3.0% increase in the previous
quarter (see
Annex A-3).
Factory space6 under
construction increased by 0.5% to 2.025 million sq m (gross) in the
1st Quarter 2007 (see
Annex F).
The stock of completed
factory space (with TOP) increased by 147,000 sq m to 27.584 million
sq m (nett) as at the end of 1st Quarter 2007, while the amount of
occupied factory space increased by 129,000 sq m to 25.009 million
sq m (nett) in the same period.
The vacancy rate of
factory space remained unchanged at 9.3% as at the end of 1st
Quarter 2007.
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.
| 1 |
Planning approvals
refer to either Provisional Permission or Written Permission.
The pre-requisites for sale are sale license from the Controller
of Housing and Building Plan approval from the Building
Construction Authority (BCA). |
| 2 |
Sale licenses could be obtained
within 9 days and building plan approvals could be obtained
within 7 days from the date of application for cases where
clearances from various technical agencies are obtained and
relevant documents are in order during formal submissions. |
| 3 |
The methodology and sample size
may differ from those used by some property consultants. |
| 4 |
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 News Release 27
Apr 2007
|
1st Quarter 2007 Real Estate
Statistics
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