Singapore’s private home market fell by 4% last year, compared to an increase of 1.1 present in the previous year. This is based on data released by the urban redevelopment authority (URA), this last Friday for Botanique at Bartley.
This is the 1st time there’s been a decline in price in the private property home market since 2008. This is due to the stringent government cooling-off measures such as the additional buyers stamp duty (ABSD) as well as The Total Debt Servicing Ratio (TDSR), which were put into place to slow skyrocketing Botanique at Bartley housing costs.
Private Property Prices Botanique at Bartley
Overall price index
In quarter for private home prices dropped by 1.1% higher than the .7% drop in the previous quarter, which equates to a 5th straight quarter in price decline for Botanique at Bartley.
Prices are dropping across all segments of the market in Singapore’s core central region (CCR), non-landed property prices words seem to decrease by .9%, which is more than .8% decline from the previous quarter. In the rest of the central region (RCR), 1.4% price drops which were significantly more than the .4% drop in the 3rd quarter. As for the outside central region (OCR), 8.8% dip was seen; this is more than a .3% from 3rd quarter 2014. Overall, for 2014, the aggregate of the CCR, RCR, and OCR fell by 4.1%, 5.3%, and 2.2% respectively.
Botanique @ Bartley Quartley Prices
In addition, quarter for prices of landed properties declined by 1.3% compared with a decrease of 1.8% in the 3rd quarter of 2014. In 2014, these prices fell by a total of 5.3% for Botanique Bartley.
Singapore’s property developers launched 1,592 uncompleted private units for sale, excluding executive condominiums (ECs) for the 4th quarter, which is slightly higher than the 1294 units launched in the previous quarter. The total for the year of units launched was 7693 units, which is roughly 50% lower than the 15,885 units released in 2013 in Botanique Bartley.
1376 units were sold by developers, not including ECs in the 4th quarter, which is a drop from the 1531 units in Q3. The entire year of 2014, only 7,316 units were sold again a significant drop from the 14,948 units sold in the previous year.
Botanique @ Bartley
The number of private housing units launched and sold by developers (excluding ECs)
EC’s totaled 2,505 units launched by developers in 2014, all of which were launched in the 4th quarter. Of those 1,578 units, were sold in the quarter. EC buyers purchased 1113 EC units as compared to the 162 units sold in Q3, which is a significant uptick in volume for sales for Botanique Bartley.
In the secondary market, 1,151 resale transactions were made during Q4, slightly less than the 1,377 transactions from the previous quarter of 2014. However, only 4,860 resale units were sold, this marks a significant drop from the 6,671 units sold a year ago.