{"id":106584,"date":"2019-04-26T11:30:59","date_gmt":"2019-04-26T04:30:59","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-down-in-q1-2019\/"},"modified":"2019-04-26T12:05:33","modified_gmt":"2019-04-26T05:05:33","slug":"private-home-prices-hdb-resale-prices-down-in-q1-2019","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-down-in-q1-2019\/","title":{"rendered":"Private Home Prices, HDB Resale Prices Down In Q1 2019"},"content":{"rendered":"


\nPrivate home prices in Singapore fell 0.7 percent in the first quarter of 2019, notably larger than the\u00a00.1 percent decrease registered during the previous quarter, showed the Urban Redevelopment Authority (URA) data on Friday (26 April).
\nIt is also a notch higher than the 0.6 percent drop estimated by URA earlier in the month.
\nPrices of landed properties, on the other hand, climbed 1.1 percent in Q1 2019, a reversal from the two percent drop registered in the previous quarter. Non-landed property prices decreased 1.1 percent, compared with the 0.5 percent increase in Q4 2018.
\nThe Core Central Region (CCR) and the Rest of Central Region (RCR) saw non-landed property prices decline three percent and 0.7 percent, respectively. Prices in the Outside Central Region (OCR), on the other hand, rose 0.2 percent.
\nCan you afford a condo? Check your\u00a0affordability\u00a0now
\nRents of private homes increased one percent in Q1 2019, after dropping one percent previously.
\nThe URA data also revealed that developers launched 2,989 uncompleted private housing units, excluding executive condominiums (ECs), in Q1 2019, up from the 1,657 units in Q4 2018.
\nAs at end-Q1 2019, the total supply of uncompleted private residential units (excluding ECs) in the pipeline with planning approvals stood at 53,284, compared with the 51,498 units in the previous quarter. Of this, 36,839 units remained unsold, up from 34,824 units previously.
\nMeanwhile, HDB resale prices dropped at a marginally faster pace at 0.3 percent \u2013 in line with earlier estimates \u2013 in Q1 2019.
\n\u201cAlthough prices have dipped for a third consecutive quarter, the cumulative decrease over the last nine months is 0.5 percent (index 131.7 in Q2 2018 versus 131.0 in Q1 2019), lower than the 0.8 percent decline that was recorded in Q1 2018 alone,\u201d noted Christine Sun, head of research and consultancy at OrangeTee and Tie.
\nFind\u00a0HDB flats for sale\u00a0or read our\u00a0HDB guides\u00a0and\u00a0BTO guides.
\n\u201cThis may indicate that HDB resale prices have largely stabilised and buying sentiment has remained resilient,\u201d said Sun. The Housing Board also revealed that resale deals fell 14.2 percent from 5,637 cases in Q4 2018 to 4,835 cases in Q1 2019.
\nDespite the drop in transactions, Sun expects the number of flats sold at a higher price quantum to increase \u201cas around 3,500 flats built under the Design, Build and Sell Scheme (DBSS) and almost 4,000 flats in mature estates like Bukit Merah, Queenstown and Ang Mo Kio will be reaching their five-year Minimum Occupation Period (MOP) this year\u201d.
\nShe believes the higher price tags will have an uplifting effect on the overall price index.
\nALSO READ:\u00a066% Of Singaporeans Say Properties Are \u2018Value For Money\u2019
\n\u201cFurther, upcoming policy changes in May which may allow buyers to use more Central Provident Fund for older flat purchases may also increase the attractiveness and spur demand for some older flats,\u201d said Sun.
\n\u201cHowever, the positive impact may be countered by more flats being placed on the resale market this year, which may exert some downward pressure on prices of some flats. The net effect could result in further price stabilisation, where the overall price index may flatline this year.\u201d
\nHDB announced that it will offer around 3,400 Build-To-Order (BTO) flats in Kallang Whampoa, Tengah and Woodlands next month. It will also hold a concurrent Sale of Balance Flats exercise.
\nFiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email\u00a0fiona@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Private Home Prices, HDB Resale Prices Down In Q1 2019<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Private home prices in Singapore fell 0.7 percent in the first quarter of 2019, notably...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-106584","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rJ6","jetpack-related-posts":[{"id":20868,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-rents-down-at-slower-pace\/","url_meta":{"origin":106584,"position":0},"title":"Private home prices, rents down at slower pace","date":"July 22, 2016","format":false,"excerpt":"\r View of private apartments in Singapore. Prices and rents of private residential properties continued to fall in the second quarter of 2016, but at a slower pace, according to more complete data released by the Urban Redevelopment Authority (URA) on Friday, 22 July. 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The report noted\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":50819,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landed-home-prices-drop-2-8-in-q1\/","url_meta":{"origin":106584,"position":2},"title":"Landed home prices drop 2.8% in Q1","date":"April 4, 2017","format":false,"excerpt":"\r Experts believe the latest URA data shows the private residential market is reaching its trough. Private home prices across Singapore fell 0.5 percent in the first quarter of 2017, the same rate of decline as in the previous quarter, according to flash estimates from the Urban Redevelopment Authority (URA).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/04\/Private-Residential-Property-Price-Index-Q1-2017.jpg?fit=929%2C541&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":84354,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-up-3-1-in-q1-says-ura\/","url_meta":{"origin":106584,"position":3},"title":"Private home prices up 3.1% in Q1, says URA","date":"April 2, 2018","format":false,"excerpt":"\r Private home prices in Singapore continue to rise. Private home prices rose by 3.1 percent during the first quarter of 2018, up from the 0.8 percent increase seen in the previous quarter, according to flash estimates released by the Urban Redevelopment Authority (URA) on Monday (2 Apr). Prices of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117472,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-prices-drop-1-1-in-q2\/","url_meta":{"origin":106584,"position":4},"title":"Singapore private home prices drop 1.1% in Q2","date":"July 1, 2020","format":false,"excerpt":"\r Flash estimate\u00a0from the Urban Redevelopment Authority (URA) showed that the private residential property index fell 1.1% in Q2 2020.\u00a0 The COVID-19 pandemic has continued to affect the Singapore housing market as private home prices fell for a second consecutive quarter. Flash estimate from the Urban Redevelopment Authority (URA) showed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122757,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-up-1-1-in-q3\/","url_meta":{"origin":106584,"position":5},"title":"Private home prices up 1.1% in Q3","date":"October 22, 2021","format":false,"excerpt":"\r Quarter-on-quarter, private home prices\u00a0went up by\u00a01.1% and resale transactions increased to 5,362 units from 5,333 units. 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