Oct 28, 2011 - PropertyGuru.com.sg
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Prices of private residential properties in Singapore climbed 1.3 percent in the third quarter, lower than the 2.0 percent increase in Q2, according to the latest Q3 2011 property statistics from the Urban Redevelopment Authority (URA).“This was the eighth consecutive quarter in which the rate of increase in overall private housing prices had moderated,” said the URA.
Prices of non-landed properties in the Core Central Region (CCR) rose at a rate of 0.7 percent in Q3, compared to 1.6 percent in the previous quarter.
During the same period, prices of non-landed properties in the Outside Central Region (OCR) and Rest of Central Region (RCR) grew 2.1 percent and 1.2 percent respectively, slightly higher than the 1.7 percent and 1.1 percent rise in Q2.
Meanwhile, rents of private residential properties climbed 0.8 percent in Q3, lower than the 1.3 percent increase in the preceding period.
For the third quarter ending September, there was a total supply of 76,255 unfinished private residential units from projects in the pipeline, more than the 71,111 units recorded in Q2 2011, the highest number since such data was first made available in 1999.
Of the supply in the pipeline, 39,111 units were unsold as of Q3. These unsold units include 19,284 units in the OCR, 10,574 units in the CCR and 9,253 units in the RCR.
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Reader Comments: (10 comments)
That is why BAN HDB RENTAL once and for all. If you do not want to live in the HDB, please sell. HDB should be ONLY FOR OCCUPATION.
Gov should now work on reducing valuation price... price is going crazyly upwards and we commoner cannot afford even the valuation price.. some of us are in an urgent need of housing..
Once and for all, ban HDB from rental. It is unfair where some Singaporeans have no house to stay and other Singaporeans/PRs have HDB to rent! Ban PRs from HDB as well!
Prices will reduce only if the Government really wants it to go down. They have complete control of this. Renting of whole HDB is a one of the drivers for this too, and the enforcement of HDB rental rules is weak. Banking industry is enjoying this era.
if valuation price stay still at current level, how can the price from HDB or resale price will go down ? who is manupulating the market price ? market force ( so call supply & demand ) Or valuation ? Let's wait & see when market crash .
The government should ban renting of whole units of HDB. The core purpose of HDB is for housing all SINGAPOREANS, NOT PRs, irregardless of Single etc. NOT for rental income and speculation purpose.
Prices have increased too high too fast - I may be wrong but I think there is only one sure direction it will move after hitting the top.
Steep price rises lacking fundamentals is also crazy. The fact that Govt and Developers talk only about moderation and dont talk about reducing the prices reeks of GREED. Common man continues to suffer.
Isnt this chaos already, why cant all of us stop being greedy. If housing prices increase by 50% in 2-3 years - IT IS CHAOS & MADNESS. Why view downward trends as negative?
Property prices should increase in-sync with inflation. This should be balanced. Of course, if there is deflation, prices should come down. If housing collapse suddenly, there would be chaos like in China.