25 Apr '14, 8am

Private home prices down 1.3%, most in 5 years - Property Auctions News, Property Investment

Private home prices fell by 1.3 percent in the first three months of 2014, following a 0.9 percent drop in the previous quarter, revealed latest data from the URA. This is the second consecutive quarter of decline and also the biggest drop since Q2 2009. Prices tumbled in all segments of the market. Mass market home prices in the Outside Central Region (OCR) decreased for the second straight quarter by dipping 0.1 percent; Rest of Central Region (RCR) prices fell 3.3 percent – reversing a 0.4 percent gain in Q4 2013. Finally, high-end properties in the Core Central Region (CCR) fell for the fourth consecutive quarter as it dropped 1.1 percent. According to PropNex Realty, the price decline is in line with slower transaction activity in both the primary and secondary markets as the existing cooling measures continue to bite, particularly the Total Debt Servicing Ratio (TDSR...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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