{"id":108616,"date":"2019-07-02T10:23:41","date_gmt":"2019-07-02T03:23:41","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-unexpectedly-climbed-1-3-in-q2\/"},"modified":"2019-07-02T11:06:30","modified_gmt":"2019-07-02T04:06:30","slug":"private-home-prices-unexpectedly-climbed-1-3-in-q2","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-unexpectedly-climbed-1-3-in-q2\/","title":{"rendered":"Private home prices unexpectedly climbed 1.3% in Q2"},"content":{"rendered":"


\nAfter two consecutive quarters of contraction, private home prices in Singapore unexpectedly increased in the second quarter of 2019.\u00a0The private residential property price index rose 1.3 percent in Q2,\u00a0flash estimates from the Urban Redevelopment Authority (URA) showed.
\nThis is compared to the 0.7 percent drop that was registered in the previous quarter. Private home prices also fell 0.1 percent in Q4 2018.
\n\u201cThe price growth in Q2 2019 was led by the non-landed private residential segment (up 1.6 percent quarter-on-quarter) which saw values rise across the three regions: Core Central Region which rose by 1.5 percent quarter-on-quarter; Rest of Central Region with a 3.0 percent quarter-on-quarter rise; and Outside Central Region where prices inched up by 0.5 percent quarter-on-quarter,\u201d said Tricia Song, head of research for Singapore at Colliers International.
\nShe noted that home values largely moderated since the government introduced new cooling measures in July 2018. With this, she attributed the broad-based increase in home prices \u201cto improving rents amid lower completions, and a resilient economy and demand for homes\u201d.
\nLooking for a new home but not sure where to start? Check out our\u00a0Area Insider Guides\u00a0for insights!
\nDesmond Sim, CBRE\u2019s head of research for Southeast Asia, on the other hand, attributed the positive upswing to the new benchmark pricing achieved at new launches as well as the slowdown in the secondary market.
\n\u201cBased on caveats lodged, comparing 1H 2018 to 1H 2019, there was a significant reduction (-54.3 percent) in resale volume from 7,146 units to 3,266 units. New sales on the other hand remained fairly stable at 3,874 units in 1H 2019, vis-a-vis 3,688 units in 1H 2018.\u201d
\nNonetheless, Sim believes that the increase is merely an anomaly from the previous two quarters, given the downward revision in global economic forecasts and the rising unsold inventory to come from more launches.
\n\u201cOne swallow does not make a summer and one quarter of price growth does not necessarily indicate an uptrend hence forth,\u201d said Song.
\n\u201cWe think developers will remain prudent in their pricing strategy, eschewing any sudden sharp increase in prices \u2013 particularly for projects that are moving slowly.\u201d
\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 unexpectedly climbed 1.3% in Q2<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

After two consecutive quarters of contraction, private home prices in Singapore unexpectedly increased in the...<\/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-108616","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-sfS","jetpack-related-posts":[{"id":100646,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-rise-at-a-much-slower-pace-in-q3\/","url_meta":{"origin":108616,"position":0},"title":"Private home prices rise at a much slower pace in Q3","date":"October 29, 2018","format":false,"excerpt":"\r The URA\u2019s price index rose 0.5% in Q3, compared with the 3.4% increase in the quarter before. Private residential property prices grew at a much slower pace in the third quarter of 2018 as the government\u2019s latest round of property cooling measures in July took their toll. The Urban\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95051,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-prices-rose-3-4-in-q2\/","url_meta":{"origin":108616,"position":1},"title":"Singapore private home prices rose 3.4% in Q2","date":"July 30, 2018","format":false,"excerpt":"\r The price growth in Q2 was slightly slower than the 3.9 percent increase in Q1.\u00a0 Singapore private home prices rose 3.4 percent quarter-on-quarter in Q2 2018 compared to a slightly faster growth of 3.9 percent in Q1, according to more complete data released by the Urban Redevelopment Authority (URA)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98876,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-rise-at-slower-pace\/","url_meta":{"origin":108616,"position":2},"title":"Private home prices rise at slower pace","date":"October 1, 2018","format":false,"excerpt":"\r Price growth in the private residential market slowed to 0.5% compared to the 3.4% increase in Q2 2018. While private home prices continued to increase in the third quarter of 2018, the hike in prices was slower at 0.5 percent compared to the 3.4 percent increase seen in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120518,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-sector-dominates-investment-sales-for-q2-2021\/","url_meta":{"origin":108616,"position":3},"title":"Residential sector dominates investment sales for Q2 2021","date":"July 14, 2021","format":false,"excerpt":"\r 7,267 units in the residential sector changed hands in Q2 2021. The residential sector accounted for 56% of the total property investment sales at $3 billion. Property investment sales in Singapore increased 15.4% quarter-on-quarter to $5.48 billion in the second quarter of 2021, with the residential sector accounting for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/HDB-flats-in-Ghim-Moh.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":111022,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-condo-prices-in-ccr-rose-10-5-in-q2\/","url_meta":{"origin":108616,"position":4},"title":"New condo prices in CCR rose 10.5% in Q2","date":"September 24, 2019","format":false,"excerpt":"\r This significant price hike of new home sales could be due to the increased demand for luxury homes during the period under review. Image source: OrangeTee The average price of new condominiums in the Core Central Region (CCR) rose 10.5 percent to $3,014 per square foot (psf) in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118028,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-muted-in-q2-2020-but-buying-activity-to-increase-edmund-tie\/","url_meta":{"origin":108616,"position":5},"title":"Residential investment sales muted in Q2 2020, but buying activity to increase : Edmund Tie","date":"July 30, 2020","format":false,"excerpt":"\r Despite a muted market, the real estate consulting firm expects buying activity to increase, with new projects launching in the second half of 2020. The resale market is also expected to see stronger sales as viewings resume.\u00a0 Residential investment sales in Singapore were muted during the second quarter of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/108616"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=108616"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/108616\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=108616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=108616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=108616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}