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Private home prices fall 1.1% in Q1

SINGAPORE — Private home prices in Singapore fell 1.1 per cent in the first quarter from the preceding three months - the sixth consecutive quarter of decline, flash estimates by Urban Redevelopment Authority (URA) showed today (April 1).

Singapore housing, private property. TODAY file photo

Singapore housing, private property. TODAY file photo

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SINGAPORE — Private home prices in Singapore fell 1.1 per cent in the first quarter from the preceding three months - the sixth consecutive quarter of decline, flash estimates by Urban Redevelopment Authority (URA) showed today (April 1).

The data showed that home prices fell across all segments. In the non-landed residential sector, city centre prices slipped 0.6 per cent, those in city fringes were down 1.8 per cent, while the suburbs recorded a 0.9 per cent fall.

Prices of landed homes dipped 1.1 per cent.

The first quarter flash estimates by URA were compiled using a new methodology which takes into account more attributes of the properties, such as size and age of the unit, as well as its proximity to MRT stations.

URA will release the full and updated set of statistics in four weeks’ time.

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