{"id":70388,"date":"2017-10-30T10:45:18","date_gmt":"2017-10-30T03:45:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/spore-sees-first-home-price-hike-in-4-years\/"},"modified":"2017-10-30T12:02:57","modified_gmt":"2017-10-30T05:02:57","slug":"spore-sees-first-home-price-hike-in-4-years","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spore-sees-first-home-price-hike-in-4-years\/","title":{"rendered":"S\u2019pore sees first home price hike in 4 years"},"content":{"rendered":"


\nOverall prices of private homes in Singapore rose for the first time in nearly four years after it edged up by 0.7 percent in Q3 2017 compared with the 0.1 percent dip in the prior quarter, according to the latest statistics from the Urban Redevelopment Authority (URA).
\nIn particular, non-landed properties recorded a 0.6 percent uptick in prices versus a 0.1 percent slide in Q2 2017, while landed homes posted a gain of 1.2 percent from a drop of 0.3 percent previously.
\nNon-landed homes in the Outside Central Region (OCR) saw the highest growth of 0.8 percent, reversing the 0.3 percent fall in the preceding quarter. That the Rest of Central Region (RCR) rose by 0.5 percent, extending the 0.6 percent increase in the second quarter, while that in the Core Central Region (CCR) edged up by 0.1 percent compared to 0.5 percent decline previously.
\n\u201cWhile the private residential market tends to be slower in Q3 due to the Chinese seventh month, the uptick in prices suggests that the market has bottomed out,\u201d said Edmund Tie & Co\u2019s Research Head Dr Lee Nai Jia.
\nMoreover, rents of private homes across the city-state were flat compared to a 0.2 percent fall in the preceding three-month period.
\nSpecifically, rentals of non-landed properties dipped by 0.1 percent versus 0.2 percent drop in Q2 2017, while that for landed houses edged up by 0.6 percent from a slide of 0.1 percent previously.
\nNon-landed homes in RCR posted the largest increase in rents of 0.9 percent versus a 0.4 percent drop in the prior quarter. On the other hand, that in OCR dipped by 0.3 percent compared to a 0.6 decline, while that in CCR fell by 0.8 percent versus a 0.1 percent slide previously.
\nAccording to JLL\u2019s National Director for Research & Consultancy Ong Teck Hui, these could indicate that the housing rental market is beginning to bottom but vacancy remains high at 8.4 percent in Q3 2017 compared to 8.1 percent previously.
\n\u201cSome owners have withdrawn their units from the leasing market prompted by the turnaround in prices in the sales market.\u00a0 This could have reduced leasing options for some tenants and have a positive impact on rents.\u201d
\nExcluding executive condominiums, URA data show that developers launched 1,183 houses during the quarter, down from 2,011 units in Q2 0217. Their sales of private homes also declined to 2,663 units from the 3,077 units previously.
\nBut private home sales in both the primary and secondary market surged by 56.8 percent year-on-year to 18,800 units during first three quarters \u2013 the highest level in five years, Ong noted.
\n\u201cAs the market recovers, secondary market sales have been growing more significantly. For the first nine months of this year, 10,098 secondary market transactions were recorded, a 59.3 per cent increase year-on-year and it comprised 53.7 percent of the total sales volume, compared to 52.8 percent in 2016 and 46.5 percent in 2015. 8,702 units were sold on the primary market in the first three quarters, a 53.9 per cent year-on-year increase.\u201d
\nMoving forward, Ong thinks that more buyers may turn to the resale market, as developers hold back launches as home prices recover.
\nMeanwhile, Edmund Tie & Co\u2019s Dr Lee believes that Singapore\u2019s private housing sector will likely continue its rebound unless there are external shocks or policy changes that disrupt the market.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…S\u2019pore sees first home price hike in 4 years<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Overall prices of private homes in Singapore rose for the first time in nearly four...<\/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-70388","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-iji","jetpack-related-posts":[{"id":67950,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-rebound-marginally-in-q3-ura\/","url_meta":{"origin":70388,"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":62064,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-fall-0-1-in-q2-smallest-decline-in-15-quarters\/","url_meta":{"origin":70388,"position":1},"title":"Private home prices fall 0.1% in Q2, smallest decline in 15 quarters","date":"July 28, 2017","format":false,"excerpt":"\r The private housing market seems to be turning a corner, data shows. Private home prices fell by a marginal 0.1 percent in the second quarter of 2017, compared with the 0.4 percent drop in the previous three-month period, according to latest statistics released by the Urban Redevelopment Authority on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53197,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-down-for-14th-consecutive-quarter\/","url_meta":{"origin":70388,"position":2},"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":50029,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/resale-condo-prices-down-0-3-in-february\/","url_meta":{"origin":70388,"position":3},"title":"Resale condo prices down 0.3% in February","date":"March 29, 2017","format":false,"excerpt":"\r \u00a0 Prices of completed non-landed private homes fell 0.3 percent in February 2017, compared to the revised 0.1 percent decline seen in January, revealed flash estimates of the NUS Singapore Residential Price Index (SRPI). Excluding small units, prices in the central region dropped one percent, reversing the 0.5 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8217,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/completed-condo-prices-up-0-1\/","url_meta":{"origin":70388,"position":4},"title":"Completed condo prices up 0.1%","date":"March 1, 2016","format":false,"excerpt":"\r Condominiums in Singapore. Prices of completed condominiums edged up by 0.1 percent in January 2016 compared to the previous month, according to latest flash estimates of the NUS Singapore Residential Price Index (SRPI). Based on the Index, prices of completed units in the central region (districts 1 to 4\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67726,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-price-growth-accelerates-in-aug-srpi\/","url_meta":{"origin":70388,"position":5},"title":"Home price growth accelerates in Aug: SRPI","date":"September 29, 2017","format":false,"excerpt":"\r Singapore housing, part and parcel of what is uniquely Singapore (Photo: Google Maps) Overall prices of non-landed private homes here rose 0.9 percent in August on a monthly basis, surpassing the 0.6 percent gain in July, revealed flash estimates of the NUS Singapore Residential Price Index (SRPI). Excluding small\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\/70388"}],"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=70388"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/70388\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=70388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=70388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=70388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}