Property News · July 28, 2017

Private home prices fall 0.1% in Q2, smallest decline in 15 quarters


The private housing market seems to be turning a corner, data shows.
Private home prices fell by a marginal 0.1 percent in the second quarter of 2017, compared with the 0.4 percent drop in the previous three-month period, according to latest statistics released by the Urban Redevelopment Authority on Friday (28 July).
This is the smallest decline seen in 15 quarters, and indicates that the market is near its turning point.
Prices of non-landed properties across the island fell 0.1 percent, after remaining unchanged in the previous quarter.
In the Core Central Region, prices of non-landed properties dropped 0.5 percent, compared with the 0.4 percent decrease in the previous quarter. Over in the Rest of Central Region, prices increased 0.6 percent, compared with the 0.3 percent hike in the previous quarter. Prices of non-landed properties in the Outside Central Region decreased 0.3 percent, compared with an increase of 0.1 percent in the previous quarter.
Prices of landed properties declined 0.3 percent, compared with the 1.8 percent decrease in the previous quarter.
Meanwhile, rentals of private units fell 0.2 percent, compared with the 0.9 percent decline in the previous quarter.
 
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

Source : proppertyguru.com.sg/Property Market
Read more…Private home prices fall 0.1% in Q2, smallest decline in 15 quarters

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