31 Oct '16, 3am

Private home prices see biggest quarterly fall since 2009

Private home prices see biggest quarterly fall since 2009

Private residential property prices drop more than expected. Prices of private homes in Singapore fell 1.5 percent in the third quarter of 2016 after declining 0.4 percent in the previous quarter, marking the largest quarterly fall in prices since Q2 2009, according to the Urban Redevelopment Authority’s (URA) updated price index. Prices of non-landed properties in the Core Central Region (CCR) fell 1.9 percent, followed by the Rest of Central Region (RCR) and Outside Central Region (OCR), both of which saw a 1.0 percent decrease. “The deeper fall in CCR prices could be due to the inclusion of benefits by delicensed projects in the index,” said property consultancy OrangeTee. Meanwhile, rents of non-landed properties decreased 1.4 percent, compared to the 0.4 percent decline in the previous quarter. Rents fell 1.4 percent in the CCR, 0.6 percent in the RCR and 2.4 percent ...

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

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