Prices of private homes down 0.5% in Q4, rents down 1.3%: URA

PRICES of private homes fell 0.5 per cent in the fourth quarter of 2015 over the preceding quarter, according to Urban Redevelopment Authority data released on Friday. This follows a 1.3 per cent quarter-on-quarter fall in Q3 2015.

For the whole of 2015, prices fell by 3.7 per cent, compared with the 4.0 per cent decline in 2014.

Prices of non-landed private homes in Core Central Region (CCR) dipped 0.3 per cent q-o-q in Q4 and eased 0.4 per cent in the city-fringe or Rest of Central Region (RCR). In the suburbs or Outside Central Region (OCR), there was no change.

For the whole of 2015, non-landed private home prices in CCR, RCR and OCR retreated 2.5 per cent, 4.3 per cent and 3.7 per cent respectively

Prices of landed properties decreased 1.8 per cent in Q4, compared with the 0.4 fall in the previous quarter. For the whole of 2015, prices of landed properties declined by 4.1 per cent after easing 5.4 per cent in 2014,

URA said rentals of private residential properties fell 1.3 per cent in Q4 2015, compared with the 0.6 per cent decline in the previous quarter. For the whole of 2015, rentals of private residential properties fell by 4.6 per cent after easing 3.0 per cent in 2014.