Residential Property Prices Retreated in Q4
January 3, 2017
Singapore's private residential property index went down 0.6 point to 137.3 points in the last quarter of 2016 from 137.9 points in the third quarter. This represents a decline of 0.4%, compared with the 1.5% decline in the previous quarter. For the whole of 2016, prices have fallen by 3.0%, compared with the 3.7% decline in 2015, flash data released by the Urban Redevelopment Authority (URA) today showed.
House prices of non-landed private residential properties remained unchanged in Core Central Region (CCR), compared to the 1.9% decline in the Q3. Prices of houses in the Rest of Central Region (RCR) declined by 2.0%, following a decrease of 1.0% in the previous quarter. House prices in Outside Central Region (OCR) declined by 0.3%, after registering a 1.0% decline in the third quarter. For the whole of 2016, prices in CCR, RCR and OCR have fallen by 1.3%, 2.8% and 3.1% respectively.
Prices of landed properties increased by 0.9% in the fourth quarter, reversing from the 2.7% decline in the previous quarter. For the whole of 2016, prices of landed properties fell by 4.4%.
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-Dec 16. The statistics will be updated when URA releases the full real estate statistics for 4th Quarter 2016 on 26 January 2017, the land authority said.
By APMR News Staff Writer
Article Published on : 2017 January 3, 09:45 am GMT+800
Article Last Updated : 2017 January 3, 11:10 pm GMT+800
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