Housing alert: Rate of price increase continues to moderate

For 2011, prices of private residential properties increased by 5.9%, significantly lower than the 17.6% increase in 2010.

The Urban Redevelopment Authority, releasing the real estate statistics for 4th Quarter 2011, said:

The rate of price increase has continued to moderate for nine consecutive quarters. Prices of private residential properties increased by 0.2% in 4th Quarter 2011, lower than the 1.3% increase in the previous quarter and is the smallest increase since 3rd Quarter 2009.

For the year 2011 as a whole, prices of private residential properties increased by 5.9%, significantly lower than the 17.6% increase in 2010. All property segments experienced a slower rate of price increases compared to the previous quarter and previous year.

Prices of non-landed properties in Core Central Region (CCR) increased 0.5% in 4th Quarter 2011, compared with the 0.7% increase in the previous quarter. For Rest of Central Region (RCR) and Outside Central Region (OCR), prices increased by 0.1% and 0.6% respectively in 4th Quarter 2011, lower than the corresponding increases of 1.2% and 2.1% in the previous quarter.

For the year 2011 as a whole, prices of non-landed properties increased by 4.0% in CCR, 4.5% in RCR and 7.7% in OCR, compared with 14.2%, 17.6% and 15.0% respectively in 2010.

Similarly, rentals of private residential properties registered a lower rate of increase compared to the previous quarter and year. Rentals increased by 0.4% in 4th Quarter 2011, less than the 0.8% increase in the previous quarter.

For the year 2011 as a whole, rentals of private residential properties increased by 3.8%, lower than the 17.9% increase in 2010.

Also Read

One Sophia sells 30% of units at weekend launch

Turf City sites could deliver up to 800 public housing units: Huttons

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit