Private home prices slip 0.9% in Q2: URA flash index

THE fall in Singapore's private residential prices continued in the second quarter of this year with a 0.9 per cent drop - a seventh straight quarter of decline, the latest government flash estimates show.

This followed a one per cent decline in the first quarter of this year, said the Urban Redevelopment Authority (URA) on Wednesday.

The price fall was seen across all market segments.

In Core Central Region, prices slipped 0.5 per cent, higher than the 0.4 per cent decline in the previous quarter.

Prices of private homes in city fringes or Rest of Central Region fell 0.5 per cent, smaller than the 1.7 per cent fall in the previous quarter.

In the suburban areas or Outside Central Region, prices slipped 1.2 per cent, after a 1.1 per cent decline in the first quarter.

The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and a survey on developers' sales during the first 10 weeks of the quarter.

The statistics will be updated four weeks later when URA releases the full real estate statistics for the second quarter.

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