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Singapore private Q1 home prices -1.3 pct Q/Q - housing authority
April 1, 2014 / 12:51 AM / 3 years ago

Singapore private Q1 home prices -1.3 pct Q/Q - housing authority

SINGAPORE, April 1 (Reuters) - Singapore's Urban
Redevelopment Authority released flash estimates for the change
in Singapore private home prices during the first quarter of
2014:
    Quarter-on-quarter, percentage price change:
 Quarter             Q1/2014  Q4/2013  Q3/2013   Q2/2013
 Singapore private    -1.3     -0.9      +0.4     +1.0
 home prices                                     
                 
    CONTEXT:
    - Prices of non-landed private residential properties in all
market segments declined in the first quarter of 2014.
    - In the core central region, prices fell 1.3 percent after
falling 2.1 percent in the previous quarter, marking the fourth
consecutive quarter-on-quarter decline.
    - In the rest of central region, prices fell 2.8 percent,
compared with the 0.4 percent increase in the previous quarter.
    - Prices of non-landed private residential properties
outside the central region decreased for the second consecutive
quarter, by 0.3 percent, after a 1.0 percent decrease in the
previous quarter.
    - Prices of landed residential properties fell for the
second consecutive quarter, by 0.6 percent, following a 1.0
percent drop in the previous quarter.
    - Transactions in Singapore's housing market have fallen in
recent months, hurt by the government's latest efforts to cool
its housing market as well as concerns about rising interest
rates and the upcoming supply of new apartments.        
    - The flash estimates are compiled based on transaction
prices given in caveats lodged during the first 10 weeks of the
quarter, supplemented by information on new units sold by
developers.
    - URA will provide detailed statistics four weeks later.

 (Reporting by Masayuki Kitano; Editing by Paul Tait)

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