Private home prices dip 0.4% in Q2

The prices for private residential properties decreased by 0.4 per cent in the second quarter of this year, compared to the 0.7 per cent decline in the previous quarter, according to figures released by the Urban Redevelopment Authority (URA) on Friday (Jul 22).

The prices of landed properties declined by 1.5 per cent, compared to the 1.1 per cent decline in the previous quarter, while non-landed property prices dipped 0.1 per cent compared to the previous quarter’s 0.6 per cent, it said.

Rental prices for these properties also dropped 0.6 per cent in the second quarter, the figures showed.

Developers had launched 2,371 uncompleted private residential units, excluding Executive Condominiums, for sale in the second quarter, compared to 953 units in the previous quarter.

Supply aside, demand also picked up as developers sold 2,256 private residential units, excluding ECs, compared to the 1,419 units sold previously, URA said.

As for ECs, developers launched 1,260 units for sale in the same quarter, and sold 1,105 units. This was an increase from the 534 units launched and 762 units sold in the previous quarter, according to the figures.

Source : Channel NewsAsia – 22 Jul 2016