View of private apartments in Singapore.
Prices and rents of private residential properties continued to fall in the second quarter of 2016, but at a slower pace, according to more complete data released by the Urban Redevelopment Authority (URA) on Friday, 22 July.
Private home prices dipped by 0.4 percent last quarter, compared to the 0.7 percent decrease in Q1.
Prices of landed properties fell the most by 1.5 percent, compared to the 1.1 percent drop in the previous quarter. However, prices of apartments only registered a 0.1 percent fall, compared to the 0.6 percent decline in the previous quarter.
Meanwhile, rentals of private units across the island fell by 0.6 percent, compared to the 1.3 percent decline in the previous quarter.
Apartment rentals fell by 0.6 percent and 1.2 percent in the Rest of Central Region (RCR) and Outside Central Region (OCR) respectively, but rose by 0.1 percent in the Core Central Region, compared to the 1.7 percent decline in the quarter before.
Source: URA
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
