Prices fell 0.7 per cent in the first quarter of 2016, following a 0.5 per cent drop in the previous quarter, according to the Urban Redevelopment Authority.
SINGAPORE: Private home prices fell 0.7 per cent in the first quarter of 2016, following a 0.5 per cent drop in the previous quarter, according to the Urban Redevelopment Authority (URA).
URA said on Friday (Apr 22) that prices of non-landed properties outside the central region declined by 1.3 per cent in the first quarter, where prices were unchanged in the previous quarter. Prices of non-landed properties in the core central region edged up 0.3 per cent in Q1, recovering from a 0.3 per cent decline in the previous quarter.
For the rest of the central region, prices of non-landed properties remained unchanged, after a 0.4 per cent decline in the fourth quarter of last year.
Meanwhile, prices of landed properties declined by 1.1 per cent, compared to a 1.8 per cent decline in the previous quarter.
Rentals of private homes also fell 1.3 per cent in Q1, the same rate of decline as the previous quarter.
(Graph: URA)
The decline in rental prices cut across all segments of the private residential market, with rentals of non-landed properties in the core central region, rest of central region and outside of the central region falling 1.7 per cent, 0.6 per cent and 1.2 per cent respectively in the first quarter of 2016.
For office space, prices decreased by 0.3 per cent in the first quarter. This followed a decline of 0.1 per cent in the fourth quarter of last year. Rentals of office space fell by 2.1 per cent in Q1, more than the decline of 1.8 per cent in the previous quarter.
Prices for shop spaces also decreased by 1.9 per cent in the first quarter, after a decrease of 0.1 per cent in the previous quarter. Rentals of retail space also decreased by 1.9 per cent in the first quarter, compared to a decrease of 1.3 per cent in the previous quarter.
- CNA/mz
- Posted 22 Apr 2016 09:21
- Updated 22 Apr 2016 23:53
- Source: Channel NewsAsia