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     FrontPage Edition: Sun 29 October 2006

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3rd Quarter 2006 real estate statistics

Source: www.ura.gov.sg

URA RELEASES THE 3rd Quarter 2006 REAL ESTATE INFORMATION

The Urban Redevelopment Authority (URA) releases today (27 Oct 2006) the real estate statistics for the 3rd Quarter 2006.
HIGHLIGHTS OF 3rd Quarter 2006 STATISTICS
PRIVATE RESIDENTIAL UNITS
Prices
Prices of private residential properties rose 2.7% in the 3rd Quarter 2006, compared with the 1.8% increase in the previous quarter (see Annexes A-1 and B-1 & B2).
Prices of landed properties rose 1.2% in the 3rd Quarter 2006, compared with the 1.6% increase in the previous quarter. Prices of detached, semi-detached and terrace houses rose 1.4%, 0.9% and 1.1% respectively.
Prices of non-landed properties rose 3.2% in the 3rd Quarter 2006, compared with the 1.7% increase in the previous quarter. Prices of apartments rose 3.5% while those of condominiums rose 3.0%.
Rentals of private residential properties rose 5.0% in the 3rd Quarter 2006, compared with the 2.1% increase in the previous quarter (see Annex A-2).
Supply And Demand
As at the end of 3rd Quarter 2006, the number of private residential units under construction was 25,565, about 3.5% higher than that as at the end of the previous quarter (see Annex C).
Of these, 21,819 units had the pre-requisite conditions for sale (i.e. with sale licences and building plan approvals). There were another 3,440 units from projects where construction had not commenced but with the pre-requisite conditions for sale.
Hence there were a total of 25,259 units with the pre-requisite conditions for sale, which was 3.2% higher than the 24,478 units as at the end of 2nd Quarter 2006.
Of the 25,259 uncompleted units with the pre-requisite conditions for sale, 15,119 units had been sold.
The remaining 10,140 units which had yet to be sold comprised 3,314 units which had been launched for sale, and 6,826 units which had not been launched yet (see Annex D-1). There were also 849 completed but unsold units as at the end of 3rd Quarter 2006.
A total of 2,257 uncompleted private residential units were launched for sale in the 3rd Quarter 2006, compared with the 3,005 units launched in the 2nd Quarter 2006 (see Annex D-2).
Major residential projects launched in the quarter included The Oceanfront @ Sentosa Cove at Ocean Drive (264 units), The Centris at Jurong West Street 64/Jurong West Central 3 (the first 200 units from a total of 610 units), RiverGate at Martin Road (the remaining 175 units from a total of 545 units), The Clift at McCallum Street (the first 144 units from a total of 312 units) and Ardmore II at Ardmore Park/Anderson Road (118 units).
During the 3rd Quarter 2006, 2,133 uncompleted private residential units were sold by developers, compared with the 2,369 units sold in the 2nd Quarter 2006. Developers also sold 218 completed private residential units in the 3rd Quarter 2006.
A total of 2,335 private residential units were completed (granted TOP) in the 3rd Quarter 2006. Major residential projects completed in the quarter were Edelweiss Park Condominium (517 units) at Flora Road, The Shaughnessy (254 units) at Miltonia Close and The Nexus (242 units) at Bukit Timah Road.
The vacancy rate of completed private residential units was 6.6% as at the end of 3rd Quarter 2006, compared with 6.5% as at the end of the previous quarter.
More.....

Source: www.ura.gov.sg Media Release 27 Oct 2006

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