The Urban Redevelopment Authority’s (URA) real estate statistics for the third quarter of 2020

Singapore, 13 November 2020 – Prices of private residential properties increased by 0.8 per cent in the third quarter of 2020, compared with the 0.3 per cent increase in the second quarter. Landed properties increased by 3.7 per cent, after remaining unchanged in the previous quarter; and non-landed properties increased by 0.1 per cent, compared with the 0.4 per cent increase in the second quarter.

Private residential market at a glance:

Key Indicators	Change	Q2 2020	Q3 2020
Price Index	+0.8%	152.6	153.8
Rental Index	-0.5%	104.3	103.8
Take-up*	+105.3%	1,713	3,517
Pipeline supply*	+2.6%	49,090	50,369
Vacancy rate*	+0.8% point	5.4%	6.2%

* Figures exclude Executive Condominium (ECs)

In the third quarter (Q3), subject to areas, non-landed properties’ prices declined by 3.8 per cent in the Core Central Region (CCR); and went up by 2.5 per cent in the Rest of Central Region (RCR) and by 1.7 per cent in the Outside Central Region (OCR). Meanwhile, rentals decreased by 0.5 per cent, compared with the 1.2 per cent contraction in the previous quarter. Landed properties’ rentals went down by 0.1 per cent and non-landed ones by 0.6 per cent.

Office market at a glance:

Key Indicators	Change	Q2 2020	Q3 2020
Price Index	+0.2%	126.9	127.2
Rental Index	-4.5%	168.7	161.1
Pipeline supply	+14.8%	668,000 sq m (GFA)	767,000 sq m (GFA)
Vacancy rate	-0.1% point	12.1%	12.0%

As for office and retail sectors, prices of office space rose by 0.2 per cent, but rentals declined by 4.5 per cent. Similarly, prices of retail space rose by 2.2 per cent but rentals went down by 4.5 per cent.

Retail market at a glance:

Key Indicators	Change	Q2 2020	Q3 2020
Price index	+2.2%	108.8	111.2
Rental index	-4.5%	95.2	90.9
Pipeline supply	+17.6%	364,000 sq m (GFA)	428,000 sq m (GFA)
Vacancy rate	0.0% point	9.6%	9.6%

– Construction+ Online

Source: URA