Singapore Q2 private home prices -1.0 pct q/q

Thu Jul 24, 2014 8:43pm EDT

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SINGAPORE, July 25 (Reuters) - Singapore's Urban
Redevelopment Authority released detailed estimates for the
change in private home prices in the second quarter on Friday:
    
    Quarter-on-quarter, percentage price change:
 Quarter      Q2/2014   Q1/2014
 Singapore      -1.0      -1.3
 private                
 home prices            
                      
    CONTEXT:
    - Singapore has taken steps to cool the housing market, and
the drop in private home prices in the second quarter marked the
third straight quarter of price declines.
    - Prices fell across all segments of the private residential
property market.
    - Prices of non-landed properties in the core central region
 declined by 1.5 percent, following a 1.1 percent drop in the
previous quarter.
    - Prices of homes outside the central region fell 0.9
percent, significantly more than the 0.1 percent decline in the
previous quarter.
    - Private property rents fell 0.6 percent in the second
quarter, compared with a 0.7 percent decline in the first
quarter.

 (Reporting by Masayuki Kitano; Editing by Paul Tait)
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