{"id":111275,"date":"2019-10-02T10:16:44","date_gmt":"2019-10-02T03:16:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-increase-0-9-in-q3\/"},"modified":"2019-10-02T11:05:27","modified_gmt":"2019-10-02T04:05:27","slug":"private-home-prices-increase-0-9-in-q3","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-increase-0-9-in-q3\/","title":{"rendered":"Private home prices increase 0.9% in Q3"},"content":{"rendered":"


\nPrices in the core central region (CCR) and rest of central region (RCR) climbed 2.9 percent and 1.6 percent, respectively. Outside central region (OCR) prices inched up by 0.7 percent in Q3 2019.
\nPrivate home prices in Singapore rose for the second consecutive quarter in the third quarter of 2019, despite the escalation of US-China trade tension and the deterioration of global macroeconomic health.
\nThe private residential property index rose 0.9 percent in Q3 2019, compared to the 1.5 percent increase in the previous quarter, showed the Urban Redevelopment Authority\u2019s (URA) flash estimate for Q3 2019.
\nThis comes as non-landed home prices grew 1.7 percent while landed prices dropped 2.2 percent.
\n\u201cThe second consecutive quarterly increase in sales and prices suggest that more buyers previously on the sidelines are coming back to the market. The uncertain economic outlook may also lead more investors to purchase residential properties, an asset that deemed safer than equities, but with more upsides than government bonds,\u201d said Lee Nai Jia, head of research at Knight Frank Singapore.
\nIn particular, prices in the core central region (CCR) and rest of central region (RCR) climbed 2.9 percent and 1.6 percent, respectively. Outside central region (OCR) prices inched up by 0.7 percent in Q3 2019.
\nCBRE Southeast Asia head of research Desmond Sim attributed the increase in prices to the handful of successful launches that continue to drive the bulk of transactions.
\nHe cited REALIS data, which showed that 3,044 new homes were sold in Q3 2019, accounting for 65 percent of all sales, or up from the 2,144 units in Q2 2019 which made up 51 percent of total sales.
\n\u201cNew launches always help to prop up property prices,\u201d said Christine Li, research head for Singapore and Southeast Asia at Cushman & Wakefield. \u201cThis is because developers have not much leeway to launch their new projects lower than the previous projects due to the high land costs paid during the 2017-2018 property boom.\u201d
\nLooking ahead, Knight Frank expects growth in sales and prices to remain sustainable until the end of 2020, with the Additional Buyers\u2019 Stamp Duties curbing any sharp hike in demand and prices.
\nAnd while global forces in the wider economy may continue to influence the housing market, Christine Sun, head of research and consultancy at OrangeTee & Tie, believes that the city-state\u2019s \u201crobust population growth, rising household income, and positive employment numbers will remain key drivers for both home prices and demand over the long term\u201d.
\n\u201cIn view of the current economic uncertainties, Singapore will remain an attractive safe haven for foreign investors to park their funds here,\u201d she added.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Private home prices increase 0.9% in Q3<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Prices in the core central region (CCR) and rest of central region (RCR) climbed 2.9...<\/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-111275","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-sWL","jetpack-related-posts":[{"id":67950,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-rebound-marginally-in-q3-ura\/","url_meta":{"origin":111275,"position":0},"title":"Private home prices rebound marginally in Q3: URA","date":"October 2, 2017","format":false,"excerpt":"\r Private home prices across Singapore rose by 0.5 percent quarter-on-quarter in Q3 2017, reversing the 0.1 percent dip in the previous three-month period, according to flash estimates published by the Urban Redevelopment Authority (URA) today. In the landed property segment, prices increased by one percent compared to the 0.3\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100646,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-rise-at-a-much-slower-pace-in-q3\/","url_meta":{"origin":111275,"position":1},"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":122757,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-up-1-1-in-q3\/","url_meta":{"origin":111275,"position":2},"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. Private home prices in Singapore increased 1.1% in the third quarter of 2021, higher than the 0.8% hike registered in the previous quarter, showed Urban Redevelopment Authority (URA) data on Friday (22 October).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/Buildings-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":122568,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-for-private-homes-remain-strong-in-q3\/","url_meta":{"origin":111275,"position":3},"title":"Demand for private homes remain strong in Q3","date":"October 13, 2021","format":false,"excerpt":"\r Despite fewer projects launched in Q3 2021,\u00a0there were 3,358 new sale transactions, up from 2,838 in Q2 2021. Singapore saw no significant drop in demand for private homes during the third quarter of 2021, even as the city-state reverted to Phase 2 (Heightened Alert) from 22 July to 18\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/Singapore-Condo.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":111882,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-up-in-q3-2019\/","url_meta":{"origin":111275,"position":4},"title":"Private home prices, HDB resale prices up in Q3 2019","date":"October 25, 2019","format":false,"excerpt":"\r Meanwhile, buyer demand for\u00a0HDB resale flats has remained surprisingly resilient, with 6,264 resale flats changing hands, which is almost on par with the 6,276 units transacted in Q2 2019. Despite rising global uncertainties, the impact of additional cooling measures and lukewarm consumer sentiment, Singapore\u2019s real estate market continued to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/10\/ura-property-price-index-q3-2019-singapore.png?fit=550%2C283&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":113825,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-up-2-7-in-2019\/","url_meta":{"origin":111275,"position":5},"title":"Private home prices up 2.7% in 2019","date":"January 23, 2020","format":false,"excerpt":"\r On a quarterly basis, private home prices climbed 0.5% in the fourth quarter of 2019, continuing the 1.3% increase seen in the previous quarter. 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