2Q 2019 Flash URA / HDB Real Estate Statistics

NewsJuly 01, 2019
Share:

2Q 2019 Flash URA / HDB Real Estate Statistics

PRIVATE RESIDENTIAL
The second quarter of the URA’s Private Residential Price Index represented a price increase of 1.3% quarter-on-quarter (Q-o-Q). Additionally, across the regions, price index recorded an increase all around Q-o-Q (CCR at 1.5%, RCR at 3.0% and OCR at 0.5%).

Chief Executive Officer of PropNex Realty, Mr Ismail Gafoor stated that “The private new home sales segment, have remained resilient, as a result of newer project launches and higher land bid prices. On the other hand, the resale segment paints a contrasting picture.”
By comparing the number of resale units transacted in the first quarter of this year as opposed to the same time period of last year, we can observe a 49.3% drop in resale transactions from 3,666 (1Q18) to 1,858 (1Q19).

However for 2Q 2019, Mr Ismail highlighted, “We witnessed stronger take up rates of resale private properties and new launches in the second quarter. With more launches expected and en bloc owners finding their replacement homes, we expect the private residential price index to grow modestly at around 2% for the whole year.”

PUBLIC HOUSING
The HDB resale price index recorded a price change of 0.2% for the second quarter of this year. Mr. Ismail mentioned that “Despite the cooling measures in place, the public housing segment have demonstrated a continuation of strong demand, especially in terms of volume of transactions.”

This can be reflected by the 4,835 HDB resale transactions in first quarter of the year. An 8.5% (Y-o-Y) surge as compared to same time period of last year, which recorded 4,458 resale transactions. The contributing pool of buyers are believed to include newly-married couples and some enbloc downgraders who are considering HDB resale flats as immediate replacement homes.

Mr Ismail added, “In the last 3 quarters, the market has seen HDB prices falling at a slower and stable pace. From this trend, we may well experience a positive growth in the second half of the year, with 2019 ending with up to 1% growth.”

Suggested Reads

Upcoming Events

View more

You may like

Measured Pace of Price Growth and Sensitive Pricing by Developers to Benefit Homebuyers; Resilient HDB Resale Demand Supported Resale Flat Prices in Q2 2025

July 25, 2025

PropNex Partners With BYD To Drive A More Sustainable Future & Extends Sponsored Health Screening To All 13,600* Self-Employed Salespersons

July 21, 2025

Developers' Sales Eased In June On Limited New Project Launches During The School Holidays; Primary Market To Get Lively In July And August

July 16, 2025

PropNex Marks 25th Anniversary With Over $30m In Community Initiatives, Launch Of New Book And A New CEO

July 15, 2025

PropNex's Consumer Survey Shows 7-In-10 Respondents Do Not Expect Home Prices To Fall In Next 12 Months; Easing Interest Rates Seen As Motivation To Buy A New Home By Half Of Those Polled

July 11, 2025

PropNex's Comments On The Revision To The Seller's Stamp Duty (SSSD) On 4 July 2025

July 04, 2025