Singapore private home resale prices fall 1.2% in October, led by decline in central region

The private home resale market worsened in October as developers began to cut prices at new launches. -- ST FILE PHOTO: ALPHONSUS CHERN
The private home resale market worsened in October as developers began to cut prices at new launches. -- ST FILE PHOTO: ALPHONSUS CHERN

The private home resale market worsened in October as developers began to cut prices at new launches.

Overall resale prices for non-landed private homes fell 1.2 per cent from September to October, Singapore Residential Price Index flash figures showed on Thursday.

This followed a revised 0.9 per cent slide in September from the preceding month.

The decline in October was largest in the central region, where resale prices for non-landed private homes dropped 1.4 per cent month-on-month.

In the suburbs, prices went down 1 per cent from September to October.

These prices exclude resales of shoebox units. In the shoebox segment, resale prices dipped 0.2 per cent in October from the preceding month, after tumbling 2.8 per cent in September.