Private home prices fall at slower pace of 3.7% in 2015: URA final data

Potential buyers queuing with their agents to book a unit at High Park Residences on July 17, 2015.
Potential buyers queuing with their agents to book a unit at High Park Residences on July 17, 2015. ST PHOTO: SEAH KWANG PENG

SINGAPORE - Private home prices fell at a slower pace last year compared with 2014, according to Urban Redevelopment Authority (URA) data on Friday (Jan 22).

Prices fell 0.5 per cent in the fourth quarter of last year, taking the full year decline to 3.7 per cent, compared with a 4.0 per cent price decline in 2014.

This was similar to URA's flash estimates released earlier in January, and is the smallest across the nine straight quarters of price decline in URA's property price index.


GRAPHICS: URBAN REDEVELOPMENT AUTHORITY

 
 

For the whole of 2015, prices in the core central region, rest of central region and outside central region fell 2.5 per cent, 4.3 per cent and 3.7 per cent respectively.

Private property rents fell 1.3 per cent in the fourth quarter, faster than the 0.6 per cent decline in the third quarter.

For the whole of 2015, rents fell by 4.6 per cent, accelerating from the 3 per cent decline in 2014.