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URA private home price index down 1.3% in Q3

High-rise private apartment condominiums in the Scotts Road and Cairnhill area.

THE Urban Redevelopment Authority said on Friday its price index for private homes fell 1.3 per cent in the third quarter this year over the preceding quarter.

This follows a 0.9 per cent quarter-on-quarter (q-o-q) decline in the index in Q2 2015.

In Q3, prices of landed homes slipped 0.4 per cent, a smaller decline compared with the 1 per cent drop in Q2.

Prices of non-landed homes fell 1.5 per cent in Q3, a bigger fall than the 0.8 per cent drop in Q2.

URA's overall rental index for private homes eased 0.6 per cent in Q3, a smaller decrease compared with the 1.1 per cent fall registered in Q2.

The vacancy rate for private homes stood at 7.8 per cent at end-Q3, down slightly from 7.9 per cent at end-Q2.