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Price Of Private Property Slide In 2nd Quarter 2009


-- 2009-07-25 13:13:49


The Urban Redevelopment Authority (URA) released the real estate statistics for the 2nd Quarter 2009. The rates of decrease in the prices and rentals of private residential, office, shop and industrial properties have moderated in the 2nd Quarter 2009 as compared to 1st Quarter 2009.

Summary of property price in the 2nd Quarter 2009.:

  • private residential   : - 4.7%
  • office                     : - 3.9%
  • shop                      : - 1.4%
  • industrial properties: - 4.5%


Private Residential Property

Prices of Private Residential Property
Prices of non-landed properties fell by 4.7% in 2nd Quarter 2009, compared with the decline of 15.1% in the previous quarter. Prices of apartments fell by 4.9%, while prices of condominiums fell by 4.5%. 

Prices of non-landed properties in Core Central Region1 (CCR) fell by 5.2% in 2nd Quarter 2009, and prices of non-landed properties in Rest of Central Region (RCR) and Outside Central Region2 (OCR) fell by 4.4% and 2.3% respectively.

 Prices of landed properties fell by 4.7% in 2nd Quarter 2009, compared with the decrease of 9.2% in the previous quarter. Prices of detached, semi-detached and terrace houses fell by 6.0%, 3.6% and 3.9% respectively in 2nd Quarter 2009.

As at 2nd Quarter 2009, there were 62,350 private residential units in the pipeline, comprising supply from projects that were already under construction and those that had been granted planning approval but were not under construction yet. For the office sector, there was a pipeline supply of about 1.24 million sq m Gross Floor Area (GFA) of office space from various Government and private land sources. Of these, about 38,112 private residential units and about 1.13 million sq m GFA of office space were expected to be completed between 3rd Quarter 2009 and 2012.

Rental of Private Residential Property

Rentals of private residential properties3 fell by 5.2% in 2nd Quarter 2009, compared with the decrease of 8.5% in the previous quarter.

Rentals of non-landed properties:
  • CCR  : - 5.1%
  • RCR  : - 6.1%
  • OCR :  - 5.9% 

Office Space

Rental of Office Space

The rentals for office space in Singapore fell in 2nd Quarter 2009. Overall rentals for office space, based on leases which had commenced, decreased by 7.7% in 2nd Quarter 2009, compared with the decrease of 10.7% in 1st Quarter 2009

Price of Office Space

Prices of office space decreased by 3.9% in 2nd Quarter 2009, compared with the 12.0% decrease in the previous quarter.



Shop Space

Rentals of Shop Space

The overall rentals for shop space in Singapore, based on leases which had commenced, decreased by 2.0% in 2nd Quarter 2009, compared with the 3.3% decrease in the 1st Quarter 2009

Prices of Shop Space

Prices of shop space decreased by 1.4% in 2nd Quarter 2009, compared with the 4.2% decrease in the previous quarter

Industrial Space

Prices and Rental

Prices of multiple-user factory space fell by 4.5% in 2nd Quarter 2009, compared with the 9.9% decrease in the previous quarter. Rentals of multiple-user factory space also fell by 4.2%, compared with the 6.1% decrease in the previous quarter




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