Friday, April 27, 2012

Private home prices down 0.1% in Q1

SINGAPORE: Prices of private residential properties fell marginally by 0.1 per cent in the first quarter of this year, compared with the 0.2 per cent increase in the previous quarter.

This was the first quarterly fall in prices since Q2 2009, following nine consecutive quarters of declining price increases.

This is according to the real estate statistics for Q1 2012 released by the Urban Redevelopment Authority (URA).



Prices of non-landed properties in core central region (CCR) and rest of central region (RCR) both fell by 0.6 per cent in the first quarter, compared with the 0.5 per cent and 0.1 per cent respective increase in the previous quarter.

For outside central region (OCR), prices increased by 1.1 per cent, compared with an increase of 0.6 per cent in the previous quarter.

Rentals of private residential properties registered a lower rate of increase compared to the previous quarter. Rentals increased by 0.3 per cent in the first quarter, less than the 0.4 per cent increase in the previous quarter.

- CNA/cc

View the original article here

Source From Channel News Asia

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