Private residential home prices in Singapore decrease in Q1 2016
Private residential property prices in Singapore decreased by 0.7% in 1st Quarter 2016, compared to the 0.5% decline in the previous quarter, according to the Urban Redevelopment Authority (URA) 1st Quarter 2016 real estate statistics.
A price decline of 1.3% was observed in Outside Central Region (OCR), where prices had previously remained unchanged. Prices of non-landed properties in Rest of Central Region (RCR) remained unchanged, compared to the 0.4% decline previously.
Prices of landed properties declined by 1.1%, compared to the 1.8% decline in the previous quarter.Rentals of private residential properties fell 1.3% in 1st Quarter 2016, the same rate of decline as in the previous quarter.