Continued drop in prices of Singapore’s private housing units

The Urban Redevelopment Authority (URA) released it flash estimates on 3 October showing a drop of 2.1 points to 137.9 in the price index of private residential in Q3 of 2016 from last quarter’s 140.0 points. This noted a drop of 1.5 percent from last quarter’s 0.4 percent reported drop. pixgeneric150512e_2x

The prices of non-landed private home prices especially in the Core Central Region (CCR) fell to 1.8 percent from the 0.3 percent registered increase in Q2.  Also, the Rest of Central Region (RCR) noted a drop of 1.3 percent from its 0.2 increase last quarter while the Outside Central Region (OCR) likewise reported a drop of 1.2 after its decline of 0.5 percent in Q2.

The reported flash estimates are gathered based on the data of the units sold by the developers and the transaction prices furnished in contracts forwarded for stamp duty payment. URA will further update its statistics in four weeks subject to the release of full statistics for the Q3.

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