Prices of private residential properties increased by 1.0 per cent in the second quarter of 2013. The increase in Q2 prices was higher than the flash estimate of a 0.8-per cent rise.
In the first quarter, the price growth was 0.6 per cent.
This is according to the latest figures released by the Urban Redevelopment Authority (URA).
Prices of non-landed properties in the core central region dipped 0.2 per cent, compared with the 0.6 per cent increase in the previous quarter.
In the rest of central region, prices increased by 0.2 per cent. It was the same rate of increase as in the previous quarter.
Prices in the outside central region increased by 3.8 per cent, compared with 1.4 per cent in the previous quarter.
4,538 private residential units were sold in the second quarter of 2013. This is lower than the 5,412 units sold in the first quarter of 2013.
932 executive condominium units (ECs) were sold in the second quarter of 2013, higher than the 725 units sold in the first quarter of 2013.
As at the end of the second quarter of 2013, there was a total supply of 87,789 uncompleted private residential units in the pipeline.
This is lower than the 88,623 units in the first quarter of 2013.
URA said 33,255 units remained unsold as at the second quarter of 2013.
There was an additional supply of 12,449 EC units in the pipeline.
In total, there were 100,238 units in the pipeline supply.
URA said another 12,329 units will soon be added to the pipeline supply.
If these units are included, there will be close to 112,600 private housing and EC units in the overall pipeline supply.
Many of these units are expected to be completed in the next three to four years.
Source : Channel NewsAsia – 26 July 2013