Private residential property prices fall in Q1 2017 in Singapore

Prices of private residential properties decreased by 0.4 % in 1st Quarter 2017, compared with the 0.5% decline in the previous quarter in Singapore, according to the the latest data by Urban Development Authority (URA).

Prices of landed properties declined by 1.8%, compared with the 0.8% increase in the previous quarter. Prices of non-landed properties remained unchanged, compared with the 0.8% decline in the previous quarter.

Prices of non-landed properties in Core Central Region (CCR) decreased by 0.4%, compared with the 0.1% increase in the previous quarter. Prices of non-landed properties in Rest of Central Region (RCR) and Outside Central Region (OCR) increased by 0.3% and 0.1% respectively, compared with the 2.0% and 0.6% decrease in the previous quarter respectively.

Rentals of private residential properties fell 0.9%, compared with the 1.0% decline in the previous quarter.

Rentals of landed properties fell 2.3%, compared with the 3.2% decline in the previous quarter. Rentals of non-landed properties decreased by 0.7%, the same rate of decline in the previous quarter.

Rentals of non-landed properties CCR and RCR decreased by 0.7% and 1.2% respectively, compared with the 0.4% and 0.1% decrease in the previous quarter. Rentals in OCR rose 0.4%, compared with the 2.0% decrease in the previous quarter.

Prices of office space decreased by 4.0% in 1st Quarter 2017, compared with the 0.6% decline in the previous quarter. Rentals of office space fell by 3.4% in 1st Quarter 2017, compared with the decline of 1.8% in the previous quarter

Source: URA

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