PRICES of private homes in Singapore fell for the first time in five quarters since the second quarter of 2023, slipping 1.1 per cent in Q3.
Residential prices fell the most in the landed property segment, where home prices dropped 3.8 per cent, and in the prime Core Central Region (CCR), where prices fell 1.5 per cent.
The Q3 drop in private housing prices came after prices crept up 0.9 per cent in Q2, flash estimates released by the Urban Redevelopment Authority (URA) on Tuesday (Oct 1) showed.
Year to date, prices are up 1.1 per cent, moderating from the 3.9 per cent growth in the first nine months of 2023 and the 8.2 per cent climb between January and September 2022.
Non-landed home prices fell by 0.3 per cent, reversing from the 0.6 per cent rise in the previous quarter and 1 per cent in Q1.
Prices of non-landed homes fell the most in the CCR, moving down by 1.5 per cent, extending the 0.3 per cent decline in the previous quarter
Rest of Central Region prices edged up 0.2 per cent, after a 1.6 per cent gain in the second quarter. In the suburban Outside Central Region, prices fell by 0.1 per cent after inching up by 0.2 per cent in Q2.
Total transaction volume in Q3 stood at 4,372 units, down from the 4,915 units in Q2 and 15.9 per cent lower than the 5,201 units sold in the year-ago period.
