RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Islandwide private home prices dropped 3.7% in 2015

RCR prices fell the most.

Private residential home prices in Singapore booked a 3.7% decline for the whole of 2015, according to flash estimates released by the Urban Redevelopment Authority. This represents a more marginal pace of decline when compared to the 4.0% price decline recorded for the whole of 2014.

Non-landed private residential home prices in Singapore booked a 3.4% decline for the whole of 2015, led by a 3.9% drop in city fringe condo prices..

Prices of non-landed luxury homes dropped 2.6% last year, marking the smallest price drop among market segments. Meanwhile, prices of mass-market homes in the Outside Central Region dropped by 3.7% last year.

In the fourth quarter of 2015, islandwide home prices dropped by 0.5%. Prices of non-landed private residential properties declined by 0.4% in Core Central Region (CCR), compared with the 1.2% decline in the previous quarter. Prices in Rest of Central Region (RCR) and Outside Central Region (OCR) remained unchanged, compared with the 1.6% decline in each segment in the previous quarter.

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