Suburban home prices fall for first time since 2009


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14/01/2014

Private residential property prices fell 0.8 percent in the fourth quarter of 2013, compared to a 0.4 percent increase in the previous quarter, revealed flash estimates of the URA price index.

In the Core Central Region (CCR), prices decreased 2.2 percent, which is significantly larger than the 0.3 percent decline in Q3.

And for the first time since Q2 2009, prices dropped in the Outside Central Region (OCR), by 0.6 percent compared with the previous 2.2 percent increase.

On the other hand, prices in the Rest of Central Region (RCR) rose by 0.8 percent in Q4 compared with the 0.9 percent dip in the previous quarter.

For the whole of 2013, prices in the CCR fell 2.1 percent, while prices in the RCR and OCR increased by 0.3 percent and 6.8 percent respectively.

 

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