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Property prices creep downwards in Singapore

Property Wire
Property prices creep downwards in Singapore - property prices - Singapore

Residential property prices in Singapore fell slightly by 0.1% in the first three months of 2012, according to the latest figures published by the Urban Redevelopment Authority (URA).

This compares with a 0.2% increase in the previous quarter and is the first quarterly fall in prices since the second quarter 2009, following nine consecutive quarters of declining price increases.

Prices of non landed properties in Core Central Region (CCR) and Rest of Central Region (RCR) both fell by 0.6% compared with the 0.5% and 0.1% increased respectively in the previous quarter.
For Outside Central Region (OCR), prices increased by 1.1% in the first quarter 2012, compared with an increase of 0.6% in the previous quarter.

Rentals of private residential properties registered a lower rate of increase compared to the previous quarter. Rentals increased by 0.3%, less than the 0.4% increase in the previous quarter.


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