Apr 1, 2014
Private residential property prices in Singapore fell by 1.3
percent in the first quarter of 2014, according to URA flash estimates released
today.
This is higher than the 0.9 percent decline in the previous
quarter.Prices of non-landed private residential properties declined in the first quarter this year.
In the Core Central Region (CCR), prices slid 1.3 percent
after decreasing 2.1 percent in the previous quarter. This is the fourth
consecutive quarter of price decline in this segment, noted URA.
Prices in the Outside Central Region (OCR) dropped for the
second consecutive quarter, by 0.3 percent compared to the previous 1.0 percent
dip.Over in the Rest of Central Region (RCR), prices fell 2.8 percent, compared with the 0.4 percent increase in the quarter before.
Meanwhile, prices of landed homes fell for the second consecutive quarter, by 0.6 percent, after the decline of 1.0 percent previously.
The flash estimates are compiled based on transaction prices given in caveats lodged during the first ten weeks of the quarter, supplemented by data on new units sold by developers in the first two months of the quarter.
URA will release updated figures four weeks later once more data on caveats lodged and take-up of new projects is captured.
Info courtesy - PropertyGuru.com.sg
