Chart of the Day: Prices of posh condos dipped 1% to $2,405psf

It's the first drop in 4 quarters.

Savills said that according to the URA’s flash estimates for Q2/2013, the private residential property price index inched up by a modest 0.8% QoQ.

Prices of nonlanded private homes in the OCR and RCR were up by 3.0% and 0.2% QoQ respectively, while prices in the Core Central Region (CCR) took a slight dip of 0.2% following the 0.6% increase in the previous quarter.

Here's more from Savills:

Likewise, the average price of high-end non-landed homes tracked by Savills also eased slightly by 1.0% QoQ to S$2,405 per sq ft, the first drop after rising for four consecutive quarters.

This is attributed to the weakened sentiment and demand in the high-end homes segment.

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