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Two-speed market develops for private-home prices

Singapore

A TWO-SPEED market may be emerging in the private residential property market, with the price declines for non-landed units in prime areas and the city fringe moderating, while declines for suburban non-landed units and landed homes accelerate.

This observation among some property consultants was stoked by the latest flash estimates by the Urban Redevelopment Authority (URA), which showed signs of such diverging trends in the first quarter of this year.

On Friday, URA data showed private residential property prices slipped 0.7 per cent in the first quarter on a quarter-on-quarter basis; this was the 10th straight quarter of decline, following a 0.5 per cent decline in the fourth quarter....

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