SINGAPORE - Private property prices have officially turned a corner, ending 15 quarters of decline that began in October 2013.
Prices in the three months to September of this year rose 0.5 per cent from the previous quarter, according to flash data released on Monday (Oct 2) by the Urban Redevelopment Authority (URA).
This marks the first overall rise in private home prices since the final quarter of 2013 when new major property cooling measures began taking effect.
In the third quarter, prices of non-landed private homes rose by 0.2 per cent in Core Central Region (CCR), compared to the 0.5 per cent fall in the second quarter. Prices in the Rest of Central Region (RCR) was unchanged, after registering an increase of 0.6 per cent in the previous quarter. Prices in Outside Central Region (OCR) increased by 0.7 per cent, after declining 0.3 per cent in the second quarter.
URA is scheduled to release detailed property statistics for the third quarter on Oct 27.