It comes as no surprise that the both the commercial property price and rental index have been rising. Commercial property prices had bottomed out in 2Q of 2017 and have continued its upward climb in 2Q19.
The price index came in at 144.4 for 2Q19, which is 6.49% higher than 1Q18’s number of 133.1. We note that there has been some softening in terms of the y-o-y number. This is in part because the prices of office properties have rallied a fair bit over the last 1 1/2 years.
As we go forward into the second half of 2019, it will be tough to continue this Y-o-Y increment of 6-7%. This is because the base effects are getting harder and harder to beat.
| Period | Price Index | YoY | Base Year |
| 3Q16 | 135.5 | -2.38% | 138.8 |
| 4Q16 | 134.7 | -2.81% | 138.6 |
| 1Q17 | 129.3 | -6.44% | 138.2 |
| 2Q17 | 127.5 | -6.32% | 136.1 |
| 3Q17 | 128 | -5.54% | 135.5 |
| 4Q17 | 131.4 | -2.45% | 134.7 |
| 1Q18 | 133.1 | 2.94% | 129.3 |
| 2Q18 | 135.6 | 6.35% | 127.5 |
| 3Q18 | 135.7 | 6.02% | 128 |
| 4Q18 | 138.9 | 5.71% | 131.4 |
| 1Q19 | 143.1 | 7.51% | 133.1 |
| 2Q19 | 144.4 | 6.49% | 135.6 |
