URA Flash Estimate Falls 5.9% In Q2 Pte Home Price Index

Source : The Business Times, July 1, 2009

The official price index for private homes slipped 5.9 per cent in second quarter 2009 over the preceding quarter, according to a flash estimate released on Wednesday by the Urban Redevelopment Authority (URA).

The Q2 drop is smaller than the 14.1 per cent quarter-on-quarter decline in the index in Q1 this year.

URA also released on Wednesday the flash estimates of the price changes in the three geographical regions for Q2.

Prices of non-landed private residential properties decreased by 6.6 per cent in Core Central Region, 6.3 per cent in Rest of Central Region and 2.6 per cent in Outside Central Region in Q2 over Q1.

In comparison, for the first three months of this year, prices of non-landed private residential properties posted quarter-on-quarter drops of 16.2 per cent in Core Central Region, 17.0 per cent in Rest of Central Region and 7.3 per cent in Outside Central Region.