URA: Private property prices up by 7.4 percent
URA
has released the statistics for the 4th quarter 2009. No surprises
there. The property price index has hit 165.7, not too far from the
initial flash estimate of 165.5. Prices of private residential
properties have increased by 1.8% for 2009. Also, a total of 14,688 units were sold by developers this year. Sadly 2009 didn't break the 14,811 sold set in 2007.
Of note too is that in the whole of 2009, prices of upmarket properties such as those in Orchard, Newton, Marina Bay area fell while prices in mass market properties rose quite significantly.
See quote by URA below:
For the year 2009 as a whole, prices of non-landed properties in CCR decreased by 1.8%, while those in RCR and OCR increased by 3.0% and 11.8% respectively.
For those who are unfamiliar with CCR, RCR and OCR. Here's a quick rundown:CCR = Core Central Region (D9,10,11, Orchard, Marina Bay and Sentosa)
RCR = Rest of Central Region (Toa Payoh, Marine Parade, Telok Blangah, etc)
OCR = Outside Central Region (Jurong, West Coast, Tampines. etc)
See map of where CCR, RCR and OCR belong to.
Property Price Index (2000-2009)
What a rollercoaster ride!
Supply in the pipeline also increased quarter-on-quarter marginally by 1.3%.
2,227 units were launched for sale by developers in the 4th quarter, compared to 5,899 the previous quarter. 1,841 units were sold in the 4th quarter.
We'll bring you more on what the analysts are saying soon.
What do you think? Let us know.
Via URA News Release.
Posted on 22-01-2010 13:37 | By John
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