Prices of private residential properties fell 3.7 percent for the whole of 2015, compared with the 4.0 percent fall in 2014, according to flash estimates of the Urban Redevelopment Authority (URA) price index.
On a quarterly basis, prices declined 0.5 percent in Q3 2015, compared with the 1.3 percent decline in the previous quarter.
Specifically, prices of non-landed private units declined by 0.4 percent in the Core Central Region (CCR), compared with the 1.2 percent decline in the previous quarter. Prices in the Rest of Central Region (RCR) and Outside Central Region (OCR) remained unchanged, compared with the 1.6 percent decline in each segment in the previous quarter.
For the whole of 2015, prices in the CCR, RCR and OCR fell by 2.6 percent, 3.9 percent and 3.7 percent respectively. Prices of landed properties fell 2.1 percent, compared to the 0.4 percent decline in the previous quarter. For the whole of 2015, prices of landed properties fell by 4.4 percent.
The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and survey data on new units sold by developers during the first ten weeks of the quarter. The full statistics will be updated by the URA four weeks later.
Source: URA
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
