Private resale home prices slip further

[SINGAPORE] Prices of private resale homes extended their decline in December for a fourth straight month, led by falls in the core central region (CCR), flash figures released yesterday by the Singapore Real Estate Exchanges (SRX) showed.

This trend is likely to continue into 2014, say consultants, as the Total Debt Servicing Ratio (TDSR) framework and other cooling measures take their toll.

Prices of homes in the city area fell 2.3 per cent in December, followed by those in the Outside Central Region (OCR), which dipped one per cent. Only homes in the Rest of Central Region (RCR) bucked the trend, rising 2.9 per cent. Overall, the price index eased 0.2 per cent last month.