Private home prices slip at a slower rate of 0.7% in Q3

SINGAPORE - Private property prices fell 0.7 per cent in the third quarter this year - slightly more than the 0.6 per cent drop estimated in early October.

This is the fourth straight quarter of decline in private home prices, after seven rounds of property cooling measures and new mortgage rules were unveiled to rein in property values, data from the Urban Redevelopment Authority on Friday showed.

The 0.7 per cent price decline in the third quarter, though, has been the most moderate since prices turned south in the fourth quarter of 2013, and compares to the 1 per cent fall in prices in the second quarter of this year.

ocheryl@sph.com.sg