The Urban Redevelopment Authority (URA) recently released their 1Q12 real estate statistics, and in this article we will look at the patterns emerging from the numbers for both the residential and non-residential (office, shop and industrial) segments.
Residential – Prices fall for the first time since 2Q09
The URA Private Property Index (PPI) fell by 0.1% in 1Q12, the first decline since 2Q09 after 10 quarters of growth. However, it is still up 3.5% on a Year-on-Year basis and is 16.1% and 13.6% above the previous 2Q08 and 2Q96 highs respectively.
If we drill further down into the numbers, an interesting pattern emerges. The Property Price Indices for the Core Central Region and Rest of Central Region both fell by 0.6%, while the Outside Central Region Price Index rose by 1.1%. Not only did prices in the Outside Central Region increase, but it re-accelerated ...
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