Singapore Q1 private home prices fall 1.3 pct q/q

Thu Apr 24, 2014 8:46pm EDT

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SINGAPORE, April 25 (Reuters) - Singapore's Urban
Redevelopment Authority released detailed estimates for the
change in private home prices in the first quarter of 2014:
    
    Quarter-on-quarter, percentage price change:
 Quarter      Q1/2014  Q4/2013
 Singapore     -1.3     -0.9
 private               
 home prices           
                       
 
    CONTEXT:
    - The fall in Q1 prices was unchanged from the flash
estimate of a 1.3 percent drop. 
    - Prices of non-landed properties in the core central region
fell 1.1 percent in the first quarter, after a 2.1 percent drop
in the fourth quarter of 2013.
    - Prices of homes outside the central region eased 0.1
percent, following a 1.0 percent decline in the previous
quarter.
    - Private property rents fell 0.7 percent in the first
quarter, quickening from the 0.5 percent decline in the previous
quarter. 
    - A series of measures to cool the property market have
started to mute activity in the housing market in Singapore, and
property prices have fallen for the past two consecutive
quarters after rising 62 percent between the second quarter of
2009 and third quarter of 2013.

 (Reporting by Masayuki Kitano; Editing by Shri Navaratnam)
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