Property Prices Updates Q2 - Singapore

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.

- APMR News