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ven. 27 Jul 2018 – 8:39 AM
Private residential prices continued their rise in the second quarter according to statistics published by the Urban Redevelopment Authority (URA), up 3.4%
After a 3.9% jump in the first quarter, the prices of private homes rose 7.3% in the first half of 2018.
For the Q2 price index, land tenure increased prices increased by 4.1%, compared with 1.9% in the previous quarter. Prices for non-property properties increased 3.2%, compared with 4.4% in the previous quarter.
By location, prices in other regions of the rest of the Center (RCR) increased by 5.6% from the 1.2% in the previous quarter. Central-Central Region (CCR) properties rose 0.9%, up from 5.5% in the previous quarter. Non-dark home prices in the Central West region (CWR) climbed 3.0%, compared to 5.6% in the previous quarter.
Rents from private residential properties increased 1.0%, compared to 0.3% in the previous quarter
Land rents rose 3.6%, after remaining unchanged in the previous quarter. Rental of non-owned properties increased 0.6%, compared to 0.3% in the previous quarter
Vacancy rate for completed private residential units (excluding EC) decreased by 0.3 point percentage at 7.1% By the end of the quarter, 45,003 uncompleted private residential units (excluding the EC) were in the process of being procured, but the remaining 40,330 units from the previous quarter had been approved
. 26943 units remained unsold at the end of the second quarter of 2018, compared with 23,514 in the previous quarter
After the addition of 2,518 EC units in the pipeline, 47,521 units were approved. Of the EC units on hold, 18 remained unsold
A total of 26,961 units with planning approvals (including EC) remained unsold, compared to 24,193 units in the previous quarter.
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