On the other hand, the prices of private commercial and industrial properties has remained fairly stagnant over the years, with the exception being the sharp increase of industrial property prices in 2009. The stagnation of commercial property prices have caused property developers to focus their capital on other areas, such as residential properties, and the available space of commercial properties has remained fairly the same from 2006-2012. According to URA, prices of commercial space increased by 0.4% in 3rd Quarter 2013, which is significantly lower than the 1.7% increase in the previous quarter. .
The prices of industrial properties have fared slightly better than commercial properties as there was a sharp increase in the prices of industrial properties in 2009. However despite the major spike in industrial property prices, the available space of industrial properties developed only increased slightly in 2010. According to URA, prices of industrial space increased by 0.9% in 3rd Quarter 2013, which is slightly higher as compared with the 0.5% increase in the previous quarter. Therefore, it is likely that the available space of commercial and industrial private properties being developed in 2013 will increase ever so slightly due to the stagnation of commercial and industrial property prices. .
2.4 Private Residential Properties Sold.
The amount of private properties developed may not be a clear indicator of growth amongst property developers as not all private properties developed are successfully sold to consumers. A clearer indicator of growth would be the amount of private properties that developers have sold over the years. The completed and uncompleted units of private residential properties sold have not experienced many changes in the year range of 2009-2012. However there was a sharp increase in private residential properties sold in 2012 as the number of units sold were 22,197 as compared to 2011, in which 15,904 units were sold.