Prices of private residential property dropped 4.0 percent for the whole of 2014, revealed flash estimates of the URA price index.
In the last quarter of 2014, prices declined by 1.0 percent, higher than the 0.7 percent decrease in the previous three-month period. In a statement, URA said this is the fifth consecutive quarter of price falls.
Prices of non-landed private homes declined in all market segments.
In the Core Central Region (CCR), prices fell 0.9 percent, higher than the 0.8 percent decline in the previous quarter.
Over in the Rest of Central Region (RCR), prices were down 1.2 percent, higher than the previous 0.4 percent dip.
As for the Outside Central Region (OCR), prices dropped 0.9 percent, higher than the 0.3 percent decrease in the quarter before.
Prices of landed properties fell 1.1 percent compared to the 1.8 percent slide previously.
In the last 12 months, prices in the CCR, RCR and OCR fell by 4.1 percent, 5.2 percent and 2.2 percent respectively. Landed properties registered a 5.2 percent drop in the year.
The full real estate statistics for Q4 2014 will be released in the coming weeks, said URA.
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
