Private home prices fall 1% in Q2, slightly less than earlier estimated

The prices of private homes fell 1 per cent in the second quarter this year from the first quarter, a slightly smaller decline than the 1.1 per cent drop earlier estimated. -- PHOTO: ST FILE
The prices of private homes fell 1 per cent in the second quarter this year from the first quarter, a slightly smaller decline than the 1.1 per cent drop earlier estimated. -- PHOTO: ST FILE

SINGAPORE - The prices of private homes fell 1 per cent in the second quarter this year from the first quarter, a slightly smaller decline than the 1.1 per cent drop earlier estimated.

This followed a 1.3 per cent decrease in the first quarter, the Urban Redevelopment Authority said on Friday.

All segments of the market saw price declines in the April to June period, led by homes in the central regions, where prices fell 1.5 per cent.

Prices of homes in the city-fringe areas dipped 0.4 per cent, while those in suburban locations lost 0.9 per cent.

Landed home prices also dropped 1.7 per cent, accelerating from a fall of 0.7 per cent in the first quarter.

The URA also said rents of private homes fell 0.6 per cent in the second quarter, moderating slihgtly from a 0.7 per cent slide in the first quarter.