Prices of Singapore's private residential properties fall 0.4 percent in Q1

By：Xinhua Update：2017-05-02

Prices of Singapore's private homes decreased in the first quarter of 2017, with the private residential property index down 0.4 percent from the previous quarter, said Urban Redevelopment Authority (URA) on Friday.

The URA said the private residential property index fell to 136.7 points from 137.2 points in the fourth quarter of 2016, representing a decline of 0.4 percent.

As for different locations, prices of non-landed private residential properties in downtown area fell by 0.4 percent, in contrast to the 0.1 percent increase in the previous quarter.

Prices of non-landed private homes in city fringe and suburban area increased by 0.3 percent and 0.1 percent respectively, compared with the 2.0 percent and 0.6 percent decrease in the previous quarter.

Meanwhile, prices of landed residential properties fell by 1.8 percent in the first quarter of 2017, compared to a 0.8 percent increase in the previous quarter.

About 80 percent of the resident population in Singapore live in units built by the Housing and Development Board and sold to eligible households.

The private residential properties in the city state typically refer to those built by private developers.

Transactions involving private residential properties are carried out in a market separate from public housing market.