Singapore Property Prices Updates Q2
July 3, 2017
Prices of private homes in Singapore eased 0.3% in the second quarter from the first quarter, the quarter-on-quarter drop in the first quarter of the year was 0.4% 2017, according to Singapore's housing redevelopment authority.
The latest drop is the smallest quarterly-based decline since the URA's benchmark private home price index peaked in Q3 2013. The index, which has eased for 15 consecutive quarters, is now 11.8% below the peak.
URA data showed non-landed private residential properties fell by 0.9% quarter on quarter in the Core Central Region in Q2, after easing 0.4% in Q1. Prices in the Rest of Central Region (RCR) increased by 0.5%, after registering an increase of 0.3% in the previous quarter. Prices in Outside Central Region (OCR) decreased by 0.4%, after registering a 0.1% increase in the previous quarter.
Meanwhile, prices of landed residential properties fell by 0.4%, compared to the 1.8% decrease in the previous quarter.
The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and data on units sold by developers up till mid-June. The statistics will be updated on 28 July when URA releases the full real estate
- Staff Writer APMR News
Article Published on : 2017 July 3, 4:45 pm GMT +800
Article Last Updated : 2017 July 3, 8:55 pm GMT +800
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