{"id":111882,"date":"2019-10-25T12:18:23","date_gmt":"2019-10-25T05:18:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-up-in-q3-2019\/"},"modified":"2019-10-25T13:03:40","modified_gmt":"2019-10-25T06:03:40","slug":"private-home-prices-hdb-resale-prices-up-in-q3-2019","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-up-in-q3-2019\/","title":{"rendered":"Private home prices, HDB resale prices up in Q3 2019"},"content":{"rendered":"


\nMeanwhile, 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.
\nDespite rising global uncertainties, the impact of additional cooling measures and lukewarm consumer sentiment, Singapore\u2019s real estate market continued to appear resilient, with private home prices and HDB resale prices both increasing in the third quarter of 2019.
\nAccording to latest Urban Redevelopment Authority (URA) data released on Friday (25 October), non-landed private residential prices rose 1.3% in Q3 2019 compared to the previous quarter, beating its earlier 0.9% flash estimates and continuing the 1.5% growth registered in Q2 2019. Meanwhile, landed home prices also climbed 1%.<\/p>\n

\u201cA handful of successful launches continue to drive the bulk of transactions,\u201d said Tan Tee Khoon, Country Manager of PropertyGuru. New home sales, excluding executive condominiums (ECs),\u00a0increased to a total of 3,281 private residential units in\u00a0Q3 2019, up from 2,350 units in the previous quarter.
\nFor every 10 private homes sold in Q3 2019, only about four (41.3%) is a resale transaction\u2014the lowest\u00a0percentage ratio in three years.
\nAvenue South Residence was one of the projects launched in Q3 2019.
\nNotably, Q3 2019 saw the highest quarterly new home sales since Q2 2013, when 4,538 units were sold before the introduction of the Total Debt Servicing Ratio (TDSR) in June that year.
\nThe hike in non-landed home prices was led by the Core Central Region (CCR), where prices increased 2.0% quarter-on-quarter. The\u00a0Rest of Central Region (RCR) and the Outside Central Region (OCR) saw prices increase 1.3% and 0.8%, respectively.
\nAs for rents, it climbed\u00a00.1%\u00a0in Q3 2019, with landed properties registering a 2.3% drop in rents, while non-landed properties posted a 0.4% hike.
\n\u201cThe improving leasing market may be attributed to more expats being redeployed to Singapore lately,\u201d said Christine Sun, head of research and consultancy at OrangeTee & Tie. \u201cThousands of multinational companies have set up regional offices in the Asia Pacific, and Singapore may now be taking the lead as a key business hub in Asia in view of the rising tensions in Hong Kong.\u201d
\nHDB resale price index\u00a0registers positive change
\nMeanwhile, Housing and Development Board (HDB) data showed that resale prices increased 0.1% in Q3.
\nBuyer 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.
\n\u201cAlthough sales volume is 11.3% lower than the 7,063 resale transactions inked in the third quarter of last year, Q3 2019 has the second-highest number of resale transaction for Q3 in seven years,\u201d said Sun.
\nShe attributed the sustained demand for resale flats to the \u201cgenerous incentives dished out by the government and a slew of policy initiatives\u201d.
\nLast month, the government introduced the\u00a0Enhanced Housing Grant (EHG) for first-time buyers, while raising the income ceiling for public housing.
\nThese came on top of earlier policy changes which provided buyers greater flexibility in using more CPF monies for flats above a certain age and allowed them to secure bigger housing loans for their flat purchases.
\nThe HDB resale price index posted a 0.1% growth in Q3 2019.
\nMeanwhile, the HDB rental market also saw the number of approved applications to rent out HDB flats increase\u00a07% year-on-year but drop by 2.7% quarter-on-quarter.
\nThe number of rental transactions for Q3 2019 hovered above 12,000 units, \u201cwhich are within expectation as there are now more flats eligible to be leased after reaching their five-year minimum occupation period\u201d.
\nLooking ahead, Sun expects between 22,000 and 24,000 resale transactions for this year, while prices \u201cmay trend between -1 and 0 percent\u201d.
\nHDB announced that it will release 4,500 Build-To-Order flats in Tampines, Tengah and Ang Mo Kio in November, while around 3,000 flats in Sembawang and Toa Payoh will be released in February 2020. It also dropped hints for more flats to be built in mature estates in the coming years, including Queenstown and Bishan.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nKyle Leung, Digital Content Manager\u00a0at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0kyle@propertyguru.com.sg
\n\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Private home prices, HDB resale prices up in Q3 2019<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Meanwhile, buyer demand for\u00a0HDB resale flats has remained surprisingly resilient, with 6,264 resale flats changing...<\/p>\n","protected":false},"author":1,"featured_media":111883,"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-111882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"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","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-t6y","jetpack-related-posts":[{"id":70172,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-transactions-drop-in-q3\/","url_meta":{"origin":111882,"position":0},"title":"HDB resale prices, transactions drop in Q3","date":"October 27, 2017","format":false,"excerpt":"\r View of HDB flats in Ghim Moh. 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