Singapore Private Residential
Property Report:
Current situation for foreign investors and expatriates
Private Residential Sales Market Singapore
Price increases slow down further
URA's flash estimate * of the private residential property index for 4th Quarter 2011 shows that the rate of increase in private residential property prices has continued to moderate for the 9th consecutive quarter since 4th Quarter 2009.
The private residential property index rose from 205.7 points in 3rd Quarter 2011 to 206.2 points in 4th Quarter 2011. This represents an increase of 0.2%, compared to the 1.3% increase in the previous quarter.
As at the end of 3rd Quarter 2011, there was a total supply of 76,255 uncompleted private residential units from projects in the pipeline6, higher than the 71,111 units in 2nd Quarter 20117. The pipeline supply of 76,255 units was the highest ever recorded since such data was first available in 1999.
Of the supply in the pipeline, 39,111 units remained unsold as at 3rd Quarter 2011. The unsold units comprised 10,574 units in CCR, 9,253 units in RCR and 19,284 units in OCR .
Source: Urban Redevelopment Authority (URA
* The flash estimates are compiled based on transaction prices given in caveats lodged during the first ten weeks of the quarter supplemented by information on the number of new units sold by developers. The statistics will be updated 4 weeks later when URA releases the full 4th Quarter 2011 real estate statistics, when more data on the caveats lodged and the take-up of new projects are captured. Past data have shown that the difference between the quarterly price changes indicated by the flash estimate and the actual price changes could be significant when the change is small. The public is advised to interpret the flash estimates with caution.
Comparison of Property Price Index for 2nd Quarter 2011 and 3rd Quarter 2011
| Square Meter Prices - Singapore Compared to Continent | |
| Singapore |  $16,644 |
| Hong Kong | $16,422 |
| Japan | $12,884 |
| India | $10,265 |
| China | $5,449 |
| Taiwan | $5,251 |
| Cambodia | $3,750 |
| Thailand | $3,072 |
| Philippines | $2,407 |
| Malaysia | $1,546 |
| Indonesia | $1,381 |
| Source: Global Property Guide Research | |
Note: Average per square meter (sq. m.) prices in US$/€ of 120-sq. m. apartments located in the center of the most important city of each country.
See also : Buyers' Guide and Investors' Guide
Residential Leasing Market Singapore
Rentals of private residential properties increased by 0.8% in 3rd Quarter 2011, less than the 1.3% increase in the previous quarter.
Prices of non-landed properties in Core Central Region (CCR)1 increased at a slower pace of 0.7% in 3rd Quarter 2011, compared to the 1.6% increase in the previous quarter. For Rest of Central Region2 (RCR) and Outside Central Region (OCR) prices increased by 1.2% and 2.1% respectively in 3rd quarter 2011, slightly higher than the 1.1% and 1.7% increase in the previous quarter.
Rentals of private residential properties4 increased by 0.8% in 3rd Quarter 2011, less than the 1.3% increase in the previous quarter.
Source: Urban Redevelopment Authority (URA)
See also Housing Market Singapore - Rental Guide