Friday, October 23, 2009

URA’s private home price index up 15.8% in Q3

The official private home price index rose 15.8 per cent in third quarter 2009 over the preceding quarter, according to latest data released by Singapore’s Urban Redevelopment Authority on Friday.

URA’s price indices for office, shop and industrial properties decreased by 2.1 per cent, 1.2 per cent and 2.1 per cent respectively over the same period.

The planning authority’s Q3 2009 data also showed that rental indices of private residential, office, shop and industrial properties eased 2.2 per cent, 4.1 per cent, 0.9 per cent and 3.1 per cent respectively in Q3 over Q2 this year.

‘The rates of fall of rentals for all property types in Q3 2009 have moderated compared with the respective rates of fall in the Q2 2009,’ URA said in its release.

URA also provided a breakdown of prices of private homes. Its indices for non-landed private homes in the Core Central Region jumped 15.2 per cent in Q3 over Q2, while the price indices for Rest of Central Region and Outside Central Region rose 18.5 per cent and 16.1 per cent respectively.

In the landed housing segment, the price indices for detached, semi-detached and terrace houses increased by 15.6 per cent, 13.4 per cent and 15.1 per cent respectively quarter on quarter in Q3.

Source: Business Times, 23 Oct 2009

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