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Private home resale prices drop 0.7% in December, dragged down by suburban homes

Published on Jan 28, 2014 1:25 PM

Singapore's private home resale prices fell further last month, dragged down by home prices in the suburban areas.

Overall resale prices fell 0.7 per cent in December from the preceding month, according to estimates from the Singapore Residential Price Index (SRPI) on Tuesday.

The slide was steeper than the fall from October to November, when prices edged down 0.5 per cent. Initial figures had estimated a 0.1 per cent increase in November from the month before.

For December, prices fell more sharply in non-central areas, where homes recorded a 0.9 per cent drop from the preceding month. They had dipped 0.1 per cent in November from October.

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