Prices of new private residential units fall 0.1% q-o-q in 4Q2018

Prices of new private residential properties in the fourth quarter of 2018 decreased by 0.1% q-o-q, compared to the 0.5% q-o-q increase recorded in 3Q2018, according to the latest statistics by URA. For the whole of 2018, prices of new private residential properties increased by 7.9%, compared to the 1.1% y-o-y increase in 2017.
Prices of non-landed properties in the city-centre, or Core Central Region (CCR), fell by 1.0% q-o-q in 4Q2018. Prices in the city-fringe, or Rest of Central Region (RCR), increased by 1.8% q-o-q, while in the suburbs, or Outside Central Region (OCR), they increased by 0.7% q-o-q.
For the whole of last year, prices of non-landed properties increased by 6.7% in the CCR, 7.4% in the RCR, and 9.4% in the OCR respectively.
ADVERTISEMENT
Credit: URA
Rents of private residential properties decreased by 1.0% q-o-q last quarter, but increased by 0.6% for the whole of 2018.
Last quarter saw 1,657 uncompleted private residential units (excluding executive condominiums) launched for sale, compared to the 3,754 units in 3Q2018. For the whole year, developers launched 8,769 uncompleted units, compared to 6,020 units in 2017.
There were 1,836 new private residential units sold last quarter, compared to the 3,012 units in the quarter before it. Developers sold 8,795 new private homes for the whole of 2018, compared with 10,566 units in 2017.