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.

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.