01 Apr '15, 12am

JUST IN: URA revises Property Price Index for private homes

SINGAPORE: The Urban Redevelopment Authority (URA) has revised its Property Price Index (PPI) to better capture price trends in Singapore's private housing market. The revised index was first adopted for the year's first quarter flash estimates, which were also released on Wednesday (Apr 1). Using the revised methodology for the PPI, the overall private residential property index fell by 1.1 per cent - the sixth continuous quarter of price decrease. Prices of non-landed private residential properties declined in all market segments, as they did in the previous quarter. Price fell 0.6 per cent in Core Central Region (CCR), 1.8 per cent in Rest of Central Region (RCR), and 0.9 per cent in Outside Central Region (OCR). Prices of landed properties fell 1.1%. REFLECTING CURRENT MARKET TRENDS The revision aims to better reflect current market trends, since the index was last rev...

Full article: http://www.channelnewsasia.com/news/singapore/ura-revises...

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