Fourth Quarter 2019 Private Real Estate Price Index Rose 0.3 Percent
In the fourth quarter of 2019, private real estate price index rose 0.3 per cent projected full-year growth of 2.5 per cent
released by the authority in the fourth quarter of 2019, private residential Price Predictor Index shows that overall house price growth slowed in the fourth quarter of 2019, 0.3% Q o Q growth year-on-year in the third quarter of 2019, compared to 1.3 per cent.
The index in the fourth quarter of 2019 mainly due to increases in the suburbs or central region (OCR) unless the property (apartments and condominiums), driving the price up 2.9 per cent month on month, while about property prices rose by 4 per cent.
But as a whole property (apartments and condominiums) price index fell 0.7 per cent month-on-month, mainly the Golden Mile, or core centers (CCR) prices fell 3.7 per cent or central urban fringe, as well as the rest of the region (RCR) prices fell 1.4 per cent of the ball and chain.
OCR is price momentum
Gregory International (Colliers International) Singapore research director Tricia Song noted that, in the fourth quarter of 2019, OCR price index is the introduction of three new projects in a major boost. They are: Sheng Hong Kong fine garden (Sengkang Grand Residences), sold a total of 235 suite (average price per square foot of $1,741); Dai lixuan (Dairy Farm Residences), sold 36 sets of (average price per square foot of $1,553) and Midwood, sold a total of 22 sets (average price per square foot of $1,646).
At the same time, the early launch of the project, such as Ju Po yuan (Treasure at Tampines) Pleasant Lake court (The Florence Residences) continues to improve. In the fourth quarter of 2019, treasure garden apartment sold a total of 156 (average price per square foot of $1,376), while in the third quarter of 2019, sold a total of 275 apartments (average price per square foot of $1,342), in the third quarter of 2019 with 293 apartments (average price per square foot of $1,447) Lake court accepted than in the third quarter of 2019 apartments sold 53 (average price per square foot of $1,508).
From RCR in the third quarter of 2019 decreased high base
Gregory International Song noted that, in the fourth quarter of 2019, RCR price index, possibly because of a decline in the previous quarter (the third quarter of 2019) to launch new projects to achieve a “high base,” such as the Avenue South Residence, One Pearl Bank and beautiful Yahao court (Meyer Mansion) in the fourth quarter of 2019, no new projects with RCR. RCR last quarter sold only 849, set in the third quarter of 2019, almost half of 1,502 set.
Jones Lang LaSalle research and consulting senior director of Teck Ong Hui added that, as in the fourth quarter of 2019, did not launch a new product, coupled with a sharp decline in trading volume in the quarter to more than 2,000 per square foot, leading to RCR price index fell by 1.4 per cent.
The fourth quarter of 2019 due to year-end holidays CCR demand and “dilution”
CCR launch momentum in the fourth quarter of 2019, an increase of six new projects have been launched to the market, the city Guoco era (Guoco Midtown) coastal name sinks (Midtown Bay), Roman Xuan (neu at Novena), Bukit is (Bukit Timah) zone Royal Court (Royalgreen), Dunearn is expensive (Dunearn Road) on Newtown Pullman Court (Pullman residences Newton), to Bali Tiong Li (River Valley) and the Ivera Holland v Holland Village, one of the residences. Jones Lang LaSalle believes that with the arrival of the year-end holidays, “demand is likely to be diluted.”
The authority’s data shows that in CCR has launched Project, the number of unsold units increased by four times more, from the third quarter of 2018 increased from 177 set of units in the third quarter of 2019 suite 825 units. Jones Lang LaSalle’s Ong noted that “as a result of the buyer’s choice is growing, and there are no price leading projects, CCR price may face greater pressure.”