,Singapore

Residential property index up 0.9% to 165 points in Q3

The percentage represents an increase of 1.5 points.

The private property index increased by 1.5 points to reach 165 points in the third quarter of 2021, the Urban Redevelopment Authority (URA) announced.

This is a 0.9% increase quarter-on-quarter from 163.5 points recorded in the second half.

Prices of non-landed residential properties in the Core Central Region experienced a decrease of 0.6% when compared to the 1.1% increase from the previous quarter. In the Rest of Central Region, an increase of 2.2% was seen, up from the 0.1% increase from the previous quarter. A decrease by 0.2% when compared to the 1.9% increase in the previous quarter, was seen in the prices in the Outside Central Region.

Leonard Tay, head of Research, Knight Frank Singapore, attributed this growth to increased demand for landed housing. 

“Demand for landed housing in high-rise Singapore has been steadily increasing in the past few months, especially for Good Class Bungalows. Many high-net-worth individuals, especially those who have converted to Singapore citizens, are attracted to landed homes of larger floor areas and in close proximity to amenities such as parks. Additionally, retired elderly landed homeowners form a ready pool of sellers, incentivised to take profit and downgrade as they grow older and the cost to upkeep such properties become more burdensome. Continued interest and activity in the landed market is expected to prevail for the rest of the year and into next year, with prices led by GCB sales. Pandemic-driven entrepreneurship and transformative COVID-19 industries have created new wealth and a new class of landed home buyers.”

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

ARA LOGOS is currently on the 13th spot.
Meanwhile, the demand for petrochemical exports benefitted from this same crisis.
This is expected to speed up the electronic exchange of trade documents.
This is in support of achieving Absolute Zero Carbon by 2040.
Adults will only shop if goods are discounted by at least 48%, survey says.   About 54% of 1,001 Singaporean adults have plans to shop during the Black Friday sales but only if prices of goods are discounted by at least 48%, a survey from Finder.com showed.
This move is in line with its goal to accelerate recommerce growth in SEA.
The notes were released under its $3m Multicurrency Medium Term Note Programme.
Singtel showed the most growth.
Re-exports also saw an increase of 16.4% in the same month.
The marine company apologised to its workers at the dorm.
SG electricity demand peaked at 7,667MW in October 2021.
The two aim to accelerate the progression of AI.
It will focus on sustainable opportunities for companies in Singapore.
Cargo load factor, however, was down by 1.6% YoY to 97.3%.
Despite this, KF pegs their estimated total sales for the year at 13,000 units.