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Singapore private home prices down in 3Q for fourth straight quarter

October 24, 2014 8:56 AM SGT

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SINGAPORE (Oct 24): Private home prices in Singapore fell for the fourth straight quarter in 3Q2014, as a slew of cooling measures by the government in recent years continued to weigh.

Prices of private residential properties declined 0.7% q-o-q following a 1% decline in 2Q2014, according to data released this morning by the Urban Redevelopment Authority.

Prices of non-landed properties in the core central region declined 0.8%, while those in the rest of the central region fell 0.4%.

Outside the central region, non-landed home prices retreated 0.3%.

Overall, prices of landed properties declined 1.8%.

Developers launched a total of 1,294 units, excluding executive condos, during the quarter, down from 2,843 units in 2Q2014.

A total of 1,531 units, excluding executive condos, were sold in 3Q2014, fewer than the 2,665 units sold between April and June.

As at end-3Q2014, Singapore had a total of 74,496 uncompleted private homes.

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