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Subscribe to this list via RSS Blog posts tagged in Q2 2013 Singapore Real Estate Statistics

Latest Release of URA Real Estate Statistics for Q2 2013:

Singapore residential real estate 3

Residential:

- Prices of private residential real estate properties continued to show strong growth, increasing by 1% in the second quarter as compared to a 0.6% price increase in Q1 of 2013.

 

- Non-landed property prices in the core central region decreased slightly by 0.2% as compared to a 0.6% rise in Q1 2013.

 

- Prices outside the central region remain heated as prices rose by 3.8% as compared to 1.4% in Q1 2013.

 

- There are signs of slowing demand for rentals of private residential properties as rents have rose by only 0.3% as compared to an increment of 0.8% in Q1 2013.

 

- Developers launched fewer building under construction (BUCs) units. The second quarter saw 4395 units (excluding ECs) launched, about 20% lesser than the 5546 units launched in Q1 of 2013.

 

- After 7 rounds of property cooling measures, demands for residential building under construction (BUCs) units seems to have weaken slightly as developers sold only 4538 units as compared to 5412 units in Q1 2013.

 

- Buying demand seems to have shifted towards executive condominium BUC purchases as developers sold 932 EC units, roughly about 28% higher than the 725 EC units sold in Q1 2013.  

 

- In the completed resale market, transactions dropped marginally from 2005 units to 1982 units.

 

- The total number of gross units transacted, including uncompleted, completed, sub-sale and resale fell from 7809 units to 6808 units which marked a ~13% drop in overall transactions.

 

- In the supply pipeline, developers launched 87,789 uncompleted private residential units, of which 33,255units remained unsold. This represents about 37.8% of the total supply property units.

 

- A supply of 12,449 EC units was launched as at the end of Q2, 2013. The total available supple of private residential units, including ECs totalled 100,238 units.

 

- Based on the expected completion dates reported by the developers, about 12,000 units (including ECs) will be completed in the second half of 2013 and an estimated 21,235 units to be completed in 2014.

 

- The vacancy rate for completed private residential properties saw marginal increment from 5.2% in Q1 2013 ro 5.6% in Q2 2013.

 

- The vacancy rate for completed executive condominiums remains stable at 0.3% for both Q1 and Q2 2013.

 

singapore commercial real estate

Commercial & Industrial:

- Prices of commercial office space saw increment of 1.5% in Q2 2013 as compared to a 2.1% increase in Q1 2013. Office rentals rose marginally by 0.2% as compared to a marginal drop of 0.2% in Q1 2013.

 

- There is a total supply of about 1.149 million sqm GFA of office space in the pipeline.

 

- There is an increase in occupancy for office space with island-wide vacancy rate dropping to 8.8% in Q2 2013 from 9.2% in Q1 2013.

 

- Demand for shop space continued to decline as prices for shop space increased by only 1.7% in Q2 as compared to a 2.1% increase in Q1 2013. Rentals for shop spaces also continued its decline by 0.8% in Q2, following a decline of 0.6% in Q1 2013.

 

- Shop space vacancy rate rose from 5.5% in Q1 to 5.8% in Q2 2013.

 

- At the end of Q2 2013, there was a total supply of 598,000 sqm GFA of shop space from projects in the pipeline.

 

- Prices of industrial factory spaces slowed sharply after the new recent property cooling measures targeting industrial properties. Prices rose by only 0.5% in Q2 as compared to a sharp rise of 2.9% in Q1 2013.

 

- As at the end of Q2 2013, there was a total supply of 4.436 million sqm GFA of factory space from projects in the pipeline.

 

- The vacancy rate of industrial space rose to 7.6% in Q2 from 7% in Q1 2013 and 6.9% in Q4 2012.

 

Related Links:

http://www.mortgagesupermart.com.sg/blog/7-q1-2013-singapore-real-estate-statistics-mortgage-supermart-singapore

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