Singapore private home prices fall for 8th continuous quarter in Q3

Private residential property price in Singapore fell 1.3 percent in the third quarter, the eighth continuous quarter of price decrease, compared to the 0.9 percent decline in the previous quarter, the Urban Redevelopment Authority (URA) said on Friday.

All segments have registered decline in the private residential property market, with prices of non-landed private residential properties in core central region fell 1.2 percent, while prices in the rest of central region and outside central region both fell by 1.6 percent. In the meantime, prices of landed properties declined by 0.4 percent, compared to the 1.0 percent decline in the previous quarter.

Rentals of private residential properties also recorded decline with all segments dropped across the private residential property market.

There were 1,619 resale transactions in the third quarter, compared to the 1,827 units transacted in the second quarter. Resale transactions accounted for 38.9 percent of all sale transactions, compared to the 44.5 percent in previous quarter, URA said.