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  • CBRE’s comments on URA's flash estimates for the Q3 2018 private property price index

CBRE’s comments on URA's flash estimates for the Q3 2018 private property price index

Singapore | October 1, 2018
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Desmond Sim, Head of Research, Singapore & Southeast Asia

Based on the preliminary estimates released by the URA for Q3 2018, the private residential property index increased by 0.5% to 149.7, compared to the 3.4% increase in the previous quarter. This is a clear indicator that the cooling measures which took effect on 6 July 2018 have managed to curtail the exuberance in the market.

Nonetheless, prices in the CCR still registered a healthy 1.2% increase, while prices in the RCR have bucked the trend to register a decline of 0.8%. There has been anecdotal evidence that some previously launched residential projects has softened slightly on their pricing in order to move units.

Nevertheless, CBRE maintains a 8-10% overall increase for the property price index (PPI) in 2018, on the back of upcoming launches acquired at higher land costs. While prices in psf are expected to continue to drive the PPI, new sales have been driven by the total price quantum supported by smaller unit sizes.

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Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.

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