{"id":41963,"date":"2017-01-26T10:41:09","date_gmt":"2017-01-26T03:41:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-down-3-1-in-2016-ura-data\/"},"modified":"2017-01-26T10:43:39","modified_gmt":"2017-01-26T03:43:39","slug":"private-home-prices-down-3-1-in-2016-ura-data","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-down-3-1-in-2016-ura-data\/","title":{"rendered":"Private home prices down 3.1% in 2016: URA data"},"content":{"rendered":"


\nAerial view of private properties in the Kembangan area.
\nExcluding executive condominiums (ECs), prices of private homes in Singapore dipped by 0.5 percent in Q4 2016 following a 1.5 percent drop in the previous quarter. For the whole of 2016, prices fell by 3.1 percent versus the 3.7 percent decline in 2015, revealed more detailed statistics released by the Urban Redevelopment Authority on Thursday (26 January).
\nLast quarter, the cost of non-landed houses slid by 0.8 percent, an improvement from the previous 1.2 percent decline. Conversely, prices of landed properties increased by 0.8 percent, reversing the 2.7 percent fall in Q3 2016. Consequently, prices in each segment declined by 2.6 percent and 4.5 percent respectively for the whole of 2016.
\nRental prices of private homes also fell by just one percent in Q4 2016 versus the 1.2 drop in the previous quarter. For the whole of 2016, rents fell by four percent compared to the 4.6 percent drop in 2015.
\nMoreover, developers launched 2,944 uncompleted private units for sale during Q4, up from the 1,609 units recorded in Q3. Last year, a total of 7,877 units were released compared with 7,056 units in 2015.
\nExcluding ECs, 2,316 private homes were sold in Q4 2016 versus the 1,981 units taken up in the previous quarter. Last year, 7,972 units were sold, exceeding the 7,440 units seen in 2015.
\nIn the EC segment, 93 units were launched, while 734 units found buyers last quarter, a far cry from the 862 units launched and 1,398 units moved in Q3. Nevertheless, developers sold 3,999 EC units for the whole of 2016, surpassing the previous year\u2019s 2,550 units.
\nAs for the secondary market, there were 1,944 resale transactions in Q4 2016, down from the 2,477 units transacted in the previous quarter. The sale of secondary homes accounted for 44.3 percent of all deals, a contraction from the 53.9 percent market share in Q3 2016. Overall, 7,901 resale units were sold last year, outstripping the 6,160 transactions in 2015.
\nMoving forward, 18,307 private homes (including ECs) are expected to be completed this year, while another 13,785 units are targeted to be ready by 2018.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Private home prices down 3.1% in 2016: URA data<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aerial view of private properties in the Kembangan area. Excluding executive condominiums (ECs), prices of...<\/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-41963","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-aUP","jetpack-related-posts":[{"id":39464,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-fell-3-in-2016\/","url_meta":{"origin":41963,"position":0},"title":"Private home prices fell 3% in 2016","date":"January 3, 2017","format":false,"excerpt":"\r Singapore home prices continue to drop. Private home prices across Singapore fell by three percent in 2016, slightly lower than the 3.7 percent decline in 2015, according to flash estimates of the Urban Redevelopment Authority\u2019s (URA) price index. Prices in the fourth quarter dropped by 0.4 percent, compared with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/01\/Property-Price-Index-for-Q3-and-Q4-2016-1024x525.jpg?fit=1024%2C525&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":53197,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-down-for-14th-consecutive-quarter\/","url_meta":{"origin":41963,"position":1},"title":"Private home prices down for 14th consecutive quarter","date":"April 28, 2017","format":false,"excerpt":"\r Prices of landed properties registered the largest decline of 1.8 percent in Q1 2017.\u00a0 Prices of private residential properties fell 0.4 percent in Q1 2017, following a 0.5 percent drop in the previous quarter, according to data released on Friday (28 April) by the Urban Redevelopment Authority. This is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106584,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-down-in-q1-2019\/","url_meta":{"origin":41963,"position":2},"title":"Private Home Prices, HDB Resale Prices Down In Q1 2019","date":"April 26, 2019","format":false,"excerpt":"\r Private 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). It is also a notch higher than the 0.6 percent drop estimated by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103310,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-up-7-9-in-2018-hdb-resale-prices-down-0-9\/","url_meta":{"origin":41963,"position":3},"title":"Private home prices up 7.9% in 2018, HDB resale prices down 0.9%","date":"January 25, 2019","format":false,"excerpt":"\r \u00a0 Private home prices in Singapore, excluding executive condominiums (ECs), increased at a faster pace last year. On the other hand, the decline in HDB resale prices slowed down. According to latest statistics released by the Urban Redevelopment Authority (URA) on Friday (25 Jan), private residential prices eased by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113350,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-up-0-3-in-q4-2019-and-2-5-overall-in-2019\/","url_meta":{"origin":41963,"position":4},"title":"Private home prices up 0.3% in Q4 2019 and 2.5% overall in 2019","date":"January 2, 2020","format":false,"excerpt":"\r In Q3\u00a02019, the overall price index for private homes rose by 1.3%. Singapore\u2019s private home prices grew for the third straight quarter in 2019, as the Urban Redevelopment Authority\u2019s (URA) flash estimate for Q4 2019 revealed a 0.3% growth over the previous quarter. Overall in 2019, the same estimate\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39669,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landed-home-prices-up-for-first-time-since-2013\/","url_meta":{"origin":41963,"position":5},"title":"Landed home prices up for first time since 2013","date":"January 5, 2017","format":false,"excerpt":"\r Some experts have warned that this could be a statistical blip, and the landed housing market may face increased pressure this year. (Photo: Nikki De Guzman) Prices of landed homes climbed by 0.9 percent quarter-on-quarter in Q4 2016, reversing the 2.7 percent quarterly drop recorded during the previous three-month\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\/41963"}],"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=41963"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/41963\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=41963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=41963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=41963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}