SINGAPORE: Private home prices in Singapore fell 0.6 per cent in the first quarter of the year, according to flash estimates released by the Urban Redevelopment Authority (URA) on Monday (Apr 1).
The private residential property index decreased by 0.9 point from 149.6 points in the fourth quarter of 2018 to 148.7 points in the first quarter of 2019.
This represents a decrease of 0.6 per cent, compared to the 0.1 per cent decrease in the previous quarter, said URA.
(Source: Urban Redevelopment Authority)
Prices of non-landed private residential properties fell by 2.9 per cent in the Core Central Region (CCR), compared with the 1.0 per cent decrease in the previous quarter.
Prices in the Rest of Central Region (RCR) decreased by 0.2 per cent, after registering an increase of 1.8 per cent in the previous quarter. Prices in the Outside Central Region (OCR) were unchanged, following the 0.7 per cent increase in the previous quarter.
The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment and data on units sold by developers up till mid-March.
The statistics will be updated on Apr 26 when URA releases its full set of real estate statistics for the first quarter of 2019.
“Past data have shown that the difference between the quarterly price changes indicated by the flash estimate and the actual price changes could be significant when the change is small. The public is advised to interpret the flash estimates with caution,” URA said.
