02 Apr '12, 3pm

Private home prices fall for first time in nearly 3 years

SINGAPORE: Private home prices in Singapore have booked their first decline in nearly three years. Urban Redevelopment Authority's (URA) flash estimate released on Monday showed the private residential property price index declined marginally from 206.2 points in the fourth quarter of 2011 to 206.0 points in the first quarter of this year. This represents a decrease of 0.1%, compared to the 0.2% increase in the previous quarter. It is the first price decline since the second quarter of 2009 and follows the trend of stabilising prices over the past nine consecutive quarters. Some analysts said the dip could signal a gradual weakening in the private home prices, going forward. Private home prices declined across all segments in the first quarter. In the core central region, prices fell by 0.9 percent, while those in the city fringe were down by 0.7 percent. But there was one...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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