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Latest Release of URA Real Estate Statistics for Q3 2013 - Private Residential Properties

Singapore Residential Hdb flat

Private Residential Properties - Prices and Rental

There is a slowdown of price increases in private residential properties in Q3 2013 as compared to the previous quarter. Prices rose 0.4% in the third quarter as compared to a 1.0% increase recorded in second quarter.

Rentals of private residential properties rose by 0.2% in Q3 2013 as compared to a 0.3% increase in Q2 2013.

 

Private Residential Properties - New Show flat Launches

Developers launched 3,313 uncompleted private residential units (excluding ECs) for sale in Q3 2013 which is about 25% lesser than the 4395 units launched in Q2 2013.

Developers sold only 2430 units in Q3 2013 which is about 46% lesser than the 4538 units sold in Q2 2013. There were 1387 new executive condo units launched in Q3 2013, about 29.5% more than the 1071 units launched in Q2 2013.

Buyers seems to have run favour with EC units which saw an increase of sales from 932 executive condo units in Q2 2013 to 1240 executive condo units in Q3 2013. This represents an increase of about 33% increase in sales.

 

Private Residential Properties - Resale and Sub-sale and total transactions

Private residential resale transactions saw a substantial drop in sales volume, decreasing from 2075 units in Q2 2013 to only 1340 units in Q3 2013. This represents a drop of about 35% or 735 units. Sub sales represented for about 4.6% of sales transactions in Q3 2013 vs 4.8% in Q2 2013.

Total transactions, including completed, uncompleted, sub sale and resale units fell from 6945 in Q2 2013 to 3951 in Q3 2013, representing a decrease of 2994 units or 43% in the total number of units sold.

 

Private Residential Properties - New supply of residential units in the pipeline

As of Q3 2013, there was a total supply of 84,917 uncompleted private residential units in the supply pipeline. This is slightly lower than the 87,789 units in Q2 2013. 31,004 units remained unsold.

An additional supply of 12,436 new uncompleted executive condo units is expected in the supply pipeline, bringing the total number of uncompleted private residential and executive condo units in the supply pipeline to 97,353 (84,917+12,436).

10,025 new units are expected to be added to the supply pipeline from Government Land Sales. These units are expected to be completed in ~2017.

About 6,711 private residential and executive condo units are expected to be completed by the end of 2013. 21,263 private residential and executive condo units are expected to be completed in 2014.

 

Private Residential Properties - Stock and Vacancy of Completed Private Residential units

Stocks of available completed private residential units rose 1.2%, rising to 286,006 units in Q3 2013 from 282,528 in Q2 2013. This represents an addition of 3478 vacancy units as compared to the previous quarter.

Vacancy rate of the available units also saw an increase of 0.5% to 6.1% in Q3 2013 from 5.6% in Q2 2013.

 

Latest Release of URA Real Estate Statistics Q3 2013 - Commercial and Industrial Properties

commercial shopping centre

Office Spaces - Prices and Rental

Prices of office spaces increased by 1% in Q3 2013 vs a 1.5% increase in Q2 2013. Rentals rose 0.8% in Q3 2013 vs an increase of 0.2% increase in Q2 2013.

 

Office Spaces - New Supply in the pipeline

At the end of 3rd Quarter 2013, there was a total supply of about 1.086 million sq m GFA of office space in the pipeline.

 

Office Spaces - Stock and Vacancy

Occupancy of office spaces rose by 46,000 sq m (nett) in Q3 2013 as compared to the 19,000 sq m (nett) increase in Q2 2013. This represents an increase of more than 240% in the occupancy rate as compared to the previous quarter.

The stock of office space rose by 122,000 sq m (nett) in Q3 2013 as compared to a decrease of 18,000 sq m (nett) in Q2 2013. The rose in occupancy space by 27,000 sq m (nett) is being offset by the addition of 122,000 sq m (net) in the supply stock of office spaces. As a result of this, island-wide vacancy rate of office space rose marginally to 9.6% in Q3 2013 from 8.8% in Q2 2013.

 

Shop Spaces - Prices and Rental

Price index of commercial shop spaces rose from 128.0 in Q2 2013 to 128.5 in Q3 2013. This represents a 0.4% price increases in Q3 2013 as compared to a 1.7% increase in Q2 2013.

 

Shop Spaces – New supply in the pipeline

At the end of Q3 2013, supply pipeline for planned development shop space amounted to 128,000 sq m as compared to 153,000 sq m in Q2 2013, representing a drop of 16.3% in new supply pipelines for planned developments.

Supply in the pipeline for under construction shop spaces rose from 445,000 sq m in Q2 2013 to 486,000 sq m in Q3 2013. This represents a 9.2% increase over the previous quarter. At the end of Q3 2013, the total supply pipeline of shop spaces amounted to about 614,000 sq m.

 

Shop Spaces - Stock and Vacancy

There is an increase in demand for shop spaces as Q3 saw the amount of occupied shop spaces rose by 5000 sq m while the stock for shop spaces only increased by 2000 sq m. As a result, island-wide vacancy rate of shop space fell marginally to 5.7% as at the end of Q3 2013, from 5.8% in Q2 2013.

 

Industrial Spaces – Prices and Rental

Both prices and rentals of multiple-user factory space continued to climb in Q3 2013. Prices of factory spaces saw an increase of 0.9% in Q3 2013 as compared to 0.5% in Q2 2013 while rentals rose 4.4% in Q3 2013 as compared to only a 0.1% increase in Q2 2013.

 

Industrial Spaces – New supply in the pipeline

Supply in the pipeline for planned development for factory spaces rose 81,000 sq m to 1,024,000 sq m in Q3 2013 as compared to 943,000 in Q2 2013. This represents an increase of about 8.6%.

Supply in the pipeline for under construction units saw a drop of 95,000 sq m from 3,493,000 in Q2 2013 to 3,398,000 in Q3 2013. This represents a drop of about 2.7%.

 

Industrial Spaces – Stock and Vacancy

The demand for factory space rose sharply by 73% from 139,000 sq m in Q2 2013 to 241,000 sq m in Q3 2013 but is offset by the new stock of factory spaces of about 206,000 sq m in Q3 2013.

As a result, the vacancy rate for factory spaces remains stable with only a marginal drop of 0.1% to 7.5% in Q3 2013 as compared to 7.6% in Q2 2013.

 

Related links:

+ http://www.mortgagesupermart.com.sg/blog/15-q2-2013-singapore-real-estate-statistics-mortgage-supermart-singapore

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

 

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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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