​
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
​
Readers interested in this article also read
​
​
​
​
​
​
