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Private home prices up 5.6%
Apr 23, 2010
By Joyce Teo
The data shows that investors remain bullish on residential property despite recent government measures to cool the market. -- ST PHOTO: ALPHONSUS CHERN
PRICES of private homes rose by 5.6 per cent in the first quarter of the year, compared with a 7.4 per cent climb in the fourth quarter of last year.
Data from the Urban Redevelopment Authority (URA), released on Friday, also showed that landed home prices have continued to rise at 8.3 per cent, the same rate as the previous quarter.
Meanwhile, prices of non-landed private homes increased by 4.9 per cent in the same period, compared with a 7.2 per cent in the previous quarter. Rents of private homes rose by 4.7 per cent in the first quarter, said the URA.
The data shows that investors remain bullish on residential property despite recent government measures to cool the market. During the quarter, prices of office, shop and industiral properties also rose by 1.8 per cent, 1.8 per cent and 1.5 per cent respectively.
URA said there were 63,581 private residential units in the pipeline in the first three months. Of these, 34,233 units were still unsold. This number is equivalent to about three years of supply based on the average take-up rate of about 11,300 units over the last three years.
The URA data showed that prices of private apartments rose by 3.6 per cent while that for condominiums went up by 5.7 per cent. Prices of non-landed properties in Core Central Region climbed by 4.4 per cent in Q1, while those in Rest of Central Region and Outside Central Region surged by by 7.9 per cent and 4.3 per cent respectively.
Apr 23, 2010
By Joyce Teo
The data shows that investors remain bullish on residential property despite recent government measures to cool the market. -- ST PHOTO: ALPHONSUS CHERN
PRICES of private homes rose by 5.6 per cent in the first quarter of the year, compared with a 7.4 per cent climb in the fourth quarter of last year.
Data from the Urban Redevelopment Authority (URA), released on Friday, also showed that landed home prices have continued to rise at 8.3 per cent, the same rate as the previous quarter.
Meanwhile, prices of non-landed private homes increased by 4.9 per cent in the same period, compared with a 7.2 per cent in the previous quarter. Rents of private homes rose by 4.7 per cent in the first quarter, said the URA.
The data shows that investors remain bullish on residential property despite recent government measures to cool the market. During the quarter, prices of office, shop and industiral properties also rose by 1.8 per cent, 1.8 per cent and 1.5 per cent respectively.
URA said there were 63,581 private residential units in the pipeline in the first three months. Of these, 34,233 units were still unsold. This number is equivalent to about three years of supply based on the average take-up rate of about 11,300 units over the last three years.
The URA data showed that prices of private apartments rose by 3.6 per cent while that for condominiums went up by 5.7 per cent. Prices of non-landed properties in Core Central Region climbed by 4.4 per cent in Q1, while those in Rest of Central Region and Outside Central Region surged by by 7.9 per cent and 4.3 per cent respectively.
