Prices of Singapore private homes, resale flats drop again in Q3

The anaemic property market continued to bear the brunt of cooling measures as private property home prices fell for a fourth straight quarter. -- ST PHOTO: ALPHONSUS CHERN
The anaemic property market continued to bear the brunt of cooling measures as private property home prices fell for a fourth straight quarter. -- ST PHOTO: ALPHONSUS CHERN

SINGAPORE - Singapore home prices continued to slide in the third quarter of this year, according to data released by the Urban Redevelopment Authority (URA) and Housing Board (HDB) on Wednesday.

Private home prices fell 0.6 per cent in the July to September period, the fourth continuous quarter of price decrease and following from a 1 per cent decline in the second quarter.

Meanwhile, the decrease in HDB resale flat prices accelerated to 1.6 per cent in the third quarter, after falling 1.4 per cent in the previous three months.

Prices of non-landed private homes declined in all market segments, the URA said.

In the prime central areas, prices fell 0.9 per cent, compared to the 1.5 per cent decline in the second quarter.

On the city-fringe, home prices dipped 0.1 per cent, compared to the 0.4 per cent previously.

Home prices in the suburban areas slipped 0.2 per cent, compared to the 0.9 per cent decline in the previous quarter.

Prices of landed properties fell 1.7 per cent, matching the 1.7 per cent decline in the previous quarter.