Prices of non-landed private resale homes fall 2% in Feb, transactions tumble to 5-year low

Prices of resale private homes slipped last month as transactions fell to the lowest in over five years, new data has showed. -- ST FILE PHOTO: CAROLINE CHIA 
Prices of resale private homes slipped last month as transactions fell to the lowest in over five years, new data has showed. -- ST FILE PHOTO: CAROLINE CHIA 

Prices of resale private homes slipped last month as transactions fell to the lowest in over five years, new data has showed.

Non-landed private home prices fell 2 per cent in February from the preceding month, according to estimates released on Monday by the Singapore Real Estate Exchange (SRX).

This reversed a 1.9 per cent gain recorded in January.

Prices in the city centre led the decline, dropping 3.9 per cent. Suburban home prices registered a 1.8 per cent slide.

However, city fringe units bucked the trend with a 0.4 per cent climb in prices in the month.

About 242 non-landed private homes changed hands in the secondary market last month, falling 18.5 per cent from January, SRX said. This was also the lowest number of transactions since December 2008 when 234 units were sold.

Rental prices of non-landed private homes also fell 1 per cent last month, reversing a rebound of 1.2 per cent in January.