SINGAPORE: Private home prices in Singapore fell for the 14th straight quarter in the first three months of this year, according to data released by the Urban Redevelopment Authority (URA) on Friday (Apr 28).
Prices fell by 0.4 per cent quarter-on-quarter for the January to March period, compared with the 0.5 per cent decline in the previous quarter.
Prices of landed properties declined by 1.8 per cent, compared with the 0.8 per cent increase in the previous quarter. Prices of non-landed properties remained unchanged, compared with the 0.8 per cent decline in the previous quarter.
Prices of non-landed properties in Core Central Region (CCR) decreased by 0.4 per cent, compared with the 0.1 per cent increase in the previous quarter. Prices of non-landed properties in Rest of Central Region (RCR) and Outside Central Region (OCR) increased by 0.3 per cent and 0.1 per cent, respectively, compared with the 2 per cent and 0.6 per cent decrease in the previous quarter.
RENTALS FALL FURTHER
Rentals of private residential properties fell 0.9 per cent, compared with the 1 per cent decline in the previous quarter.
Rentals of landed properties fell 2.3 per cent, compared with the 3.2 per cent decline in the previous quarter. Rentals of non-landed properties decreased by 0.7 per cent, the same rate of decline in the previous quarter.
Rentals of non-landed properties in CCR and RCR decreased by 0.7 per cent and 1.2 per cent, respectively, compared with the 0.4 per cent and 0.1 per cent decrease in the previous quarter. Rentals in OCR rose 0.4 per cent, compared with the 2 per cent decrease in the previous quarter.
LAUNCHES AND TAKE-UP
Developers launched 1,949 private homes – excluding executive condominiums (ECs) – during the quarter, compared with 2,944 units in the previous quarter. A total of 2,962 homes were sold, compared with the 2,316 units sold in the previous quarter.
For ECs, developers launched 1,024 units and sold 1,072 over the same period, compared with the 93 units launched and 734 units sold in the previous quarter.
There were 2,170 resale transactions, compared with 1,944 in the previous quarter. Resale transactions accounted for 41.7 per cent of all sale transactions in the quarter, compared with 44.3 per cent in the previous quarter.
There were 36,942 uncompleted private homes – excluding ECs – in the pipeline, compared with 40,913 in the previous quarter. Taking into account ECs, there were a total of 46,016 units in the pipeline. In total, 18,870 units were unsold as of the end of the first quarter.
