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In the first six months, sales volume has risen phenomenally. The data by areas shows the sales done in the different market sectors.
|
Excerpt of new private home sales |
|
|
Uncompleted |
Completed properties |
|
Period |
Total |
Core central |
Rest of central |
Outside central |
|
2005 |
7,790 |
3,226 |
2,617 |
1,947 |
1,165 |
|
2006 |
10,363 |
3,957 |
3,751 |
2,655 |
784 |
|
1st Q 07 |
4,565 |
2,055 |
1,294 |
1,216 |
218 |
|
2nd Q 07 |
4,820 |
1,196 |
1,461 |
2,163 |
309 |
Number of new homes to come on stream
To allay the fear of prospective home owners that they might be priced out of the market, the URA has released statistics showing the on-coming supply of new homes up to year 2010. This is to reassure the public that there is sufficient supply in the pipeline.
|
Excerpt of expected supply of private homes |
|
|
|
Type of property |
2007 |
2008 |
2009 |
2010 |
|
Total |
3,899 |
6,579 |
15,846 |
16,727 |
|
Under construction |
3,899 |
6,257 |
10,229 |
5,284 |
|
Planned |
- |
322 |
5,617 |
11,443 |
|
Written permission |
- |
279 |
3,828 |
5,067 |
|
Provisional permission |
- |
43 |
1,789 |
6343 |
|
Others |
- |
|
|
33 |
Sub-sale data
|
|
New sales |
Sub-sale |
Resale |
Total |
Sub-sale as % of total |
|
Period |
Uncompleted |
Completed |
Sub-total |
|
|
|
|
|
1st quarter 07 |
4,565 |
218 |
4,783 |
749 |
4,645 |
10,177 |
7.4 |
|
2nd quarter 07 |
4,820 |
309 |
5,129 |
1,254 |
6,514 |
12,897 |
9.7 |
Likewise, the IRAS released a residential rental index which shows the rental price movements of private homes.
|
|
Rental index |
% change over previous Q |
|
|
First quarter 2007 |
Second quarter 2007 |
First quarter 2007 |
Second quarter 2007 |
|
All Residential |
113.8 |
125.6 |
7.6 |
10.4 |
|
Detached |
108.2 |
116.4 |
5.0 |
7.6 |
|
Semi-detached |
110.1 |
118.0 |
4.0 |
7.2 |
|
Terrace |
107.2 |
118.1 |
6.5 |
10.2 |
|
Non-landed property |
115.0 |
127.6 |
8.1 |
11.0 |
|
Core central |
120.3 |
134.7 |
7.6 |
12.0 |
|
Rest of central |
114.4 |
125.8 |
9.8 |
10.0 |
|
Outside central |
101.6 |
111.1 |
7.1 |
9.4 |
Private apartment rents in Core Central region were up by 12% - the highest among all the three regions. The other two regions also saw apartment rents going up by 10% and 9.4% respectively.
On the whole, the statistics reflect an overall bullish outlook of the real estate market.
Edited by Sam Gian
(Singapore's Independent Real Estate Trainer & Consultant)
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