reporter2
22-04-22, 10:07
Price growth of private homes moderates to 0.7% in Q1 after cooling measures: URA
Apr 22, 2022
Prices of private homes grew by 0.7 per cent in the first quarter of the year after December's cooling measures, slowing from 5 per cent in Q4 2021 but marginally higher than the flash estimate of 0.4 per cent released by the Urban Redevelopment Authority (URA) earlier this month.
Data released by URA on Friday (Apr 22) morning showed that the increase was led by landed properties, with prices for the segment rising by 4.2 per cent, compared with 3.9 per cent in the prior quarter. On the other hand, prices of non-landed properties dipped by 0.3 per cent, after chalking up gains of 5.3 per cent in Q4 2021.
In the Core Central Region (CCR), prices of non-landed properties pulled back by 0.1 per cent, after a 2.7 per cent increase in the previous quarter. Prices of non-landed homes in the Rest of Central Region (RCR) fell by a sharper 2.7 per cent, after jumping 6.7 per cent in Q4 2021, while prices in the Outside Central Region (OCR) bucked the trend with a gain of 2.2 per cent, albeit slowing from 5.7 per cent previously.
The data also showed that rents of private homes rose 4.2 per cent in the first quarter, accelerating from 2.6 per cent in the prior quarter. Rents were higher for both landed and non-landed properties, with the former increasing 5.3 per cent in Q1 2022, versus 1.2 per cent previously. Rents of non-landed properties rose by 4.1 per cent, compared with a 2.7 per cent gain in the previous quarter. The RCR saw the biggest increase in rents in the non-landed segment at 4.7 per cent, compared with 2.8 per cent previously.
Meanwhile, the vacancy rate dropped 0.7 percentage point to 5.3 per cent.
During the first quarter, developers launched 613 uncompleted private homes (excluding executive condominiums or ECs) for sale as they took a wait-and-see approach in the wake of the cooling measures. This is significantly lower than the 2,275 units in the previous quarter.
In the quarter under review, they moved 1,825 private homes, also sharply lower than the 3,018 units sold in Q4 2021. No ECs were launched for sale in Q1, but developers sold 131 EC units from previous launches.
In the resale market, there were 3,377 resale transactions in Q1 2022, down from 4,748 units in Q4 2021. Resale deals accounted for nearly two-thirds of all sales transactions at 63.2 per cent, up from 59.9 per cent in the prior quarter.
At the end of the first quarter, there was a total supply of 47,415 uncompleted private homes (excluding ECs) in the pipeline with planning approvals. Of this, 14,087 units remained unsold at the end of the first quarter. The supply of ECs in the pipeline stood at 5,333 units, of which 1,878 units remained unsold.
https://www.businesstimes.com.sg/real-estate/price-growth-of-private-homes-moderates-to-07-in-q1-after-cooling-measures-ura
Apr 22, 2022
Prices of private homes grew by 0.7 per cent in the first quarter of the year after December's cooling measures, slowing from 5 per cent in Q4 2021 but marginally higher than the flash estimate of 0.4 per cent released by the Urban Redevelopment Authority (URA) earlier this month.
Data released by URA on Friday (Apr 22) morning showed that the increase was led by landed properties, with prices for the segment rising by 4.2 per cent, compared with 3.9 per cent in the prior quarter. On the other hand, prices of non-landed properties dipped by 0.3 per cent, after chalking up gains of 5.3 per cent in Q4 2021.
In the Core Central Region (CCR), prices of non-landed properties pulled back by 0.1 per cent, after a 2.7 per cent increase in the previous quarter. Prices of non-landed homes in the Rest of Central Region (RCR) fell by a sharper 2.7 per cent, after jumping 6.7 per cent in Q4 2021, while prices in the Outside Central Region (OCR) bucked the trend with a gain of 2.2 per cent, albeit slowing from 5.7 per cent previously.
The data also showed that rents of private homes rose 4.2 per cent in the first quarter, accelerating from 2.6 per cent in the prior quarter. Rents were higher for both landed and non-landed properties, with the former increasing 5.3 per cent in Q1 2022, versus 1.2 per cent previously. Rents of non-landed properties rose by 4.1 per cent, compared with a 2.7 per cent gain in the previous quarter. The RCR saw the biggest increase in rents in the non-landed segment at 4.7 per cent, compared with 2.8 per cent previously.
Meanwhile, the vacancy rate dropped 0.7 percentage point to 5.3 per cent.
During the first quarter, developers launched 613 uncompleted private homes (excluding executive condominiums or ECs) for sale as they took a wait-and-see approach in the wake of the cooling measures. This is significantly lower than the 2,275 units in the previous quarter.
In the quarter under review, they moved 1,825 private homes, also sharply lower than the 3,018 units sold in Q4 2021. No ECs were launched for sale in Q1, but developers sold 131 EC units from previous launches.
In the resale market, there were 3,377 resale transactions in Q1 2022, down from 4,748 units in Q4 2021. Resale deals accounted for nearly two-thirds of all sales transactions at 63.2 per cent, up from 59.9 per cent in the prior quarter.
At the end of the first quarter, there was a total supply of 47,415 uncompleted private homes (excluding ECs) in the pipeline with planning approvals. Of this, 14,087 units remained unsold at the end of the first quarter. The supply of ECs in the pipeline stood at 5,333 units, of which 1,878 units remained unsold.
https://www.businesstimes.com.sg/real-estate/price-growth-of-private-homes-moderates-to-07-in-q1-after-cooling-measures-ura