| Private properties in Singapore have consecutively | | | | URA. |
| fallen for 4 straight quarters, though falling we are | | | | A quick flash of Q2 2009 of private non-landed |
| expecting the market to be recovering with the | | | | residential properties |
| marked slower rate of decline. | | | | • Core Central Region - Fell 7%(Quarter 2, |
| URA private residential price index has shown a | | | | 2009) Fell 16%(Quarter 1, 2009) |
| 5.9% decrease in Q2. As compared to the fall in | | | | • Rest of Central Region - Fell 6%(Quarter 2, |
| Q1 of 14.1%, this decrease showed signs of | | | | 2009) Fell 17%(Quarter 1, 2009) |
| recovery. | | | | • Sub-Urban Region - Fell 3%(Quarter 2, |
| Analysts were surprised this continuing fall in the | | | | 2009) Fell 7%(Quarter 1, 2009) |
| property index, as anecdotal evidence showed | | | | From the above figures, it shows a decline in |
| climbing prices in latter Q2. | | | | prices at a decreasing rate in Singapore. |
| Reliable sources have shown that median prices in | | | | In conclusion, analysts forecast that the property |
| 2Q for brand new projects (99 yr leasehold) | | | | market is expected to recover further. However, |
| were at $787,000, 31% higher than the median | | | | this recovery will not reach prices obtain in 2007 |
| price in Q1 at $695,000. Similarly, Freehold private | | | | as funds from the global market may be still |
| projects were at $927,000, 26% higher than the | | | | affected by the current economic crisis to further |
| median price in Q1 at $732,000. There is a | | | | drive prices. Various experts still maintain a |
| significant increase in the number of transactions, | | | | cautious outlook of the property market where |
| about 49% more than Q1. | | | | they expect a W shaped recovery.e |
| On the contrary, a URA spokesman mentioned | | | | Despite of this some private condominium in |
| that certain developers only increase their prices | | | | Singapore with location near to the train station |
| in late Q2, and the price increase was insignificant | | | | continue to rise steadily when near to completion, |
| and only subjected to a few projects. | | | | for example, Casa Merah in the eastern part of |
| He added, more projects suffered from a fall in | | | | Singapore which is minute away from the train |
| process over Q2 2009 which directly affects the | | | | station draw a good crowd of buyer. |
| overall prices as reflected in the price index from | | | | |