Resale private home prices fall to new low in December

The private home resale market weakened for the fourth consecutive month, as prices fell to a new low in December. -- ST FILE PHOTO: KUA CHEE SIONG
The private home resale market weakened for the fourth consecutive month, as prices fell to a new low in December. -- ST FILE PHOTO: KUA CHEE SIONG

The private home resale market weakened for the fourth consecutive month, as prices fell to a new low in December.

Resale prices of non-landed private homes fell 0.2 per cent in December from the preceding month, according to Singapore Real Estate Exchange (SRX) flash estimates out on Monday.

Prices in the city centre led the decline, dropping 2.3 per cent. Suburban regions registered a 1 per cent slide.

However, city fringe units bucked the trend with a 2.9 per cent climb in the month.

Resale volumes remained flat in December, as an estimated 377 non-landed homes changed hands in December, similar to the 375 units sold in November.

Overall rental prices fell for the fifth month running, declining 1.3 per cent in December from the previous month. This reflected "a sustained weakening of rents", noted the SRX.

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